Legacy Capital Wealth Partners LLC Purchases New Position in Quanta Services, Inc. (NYSE:PWR)

Legacy Capital Wealth Partners LLC bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,512 shares of the construction company’s stock, valued at approximately $749,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. EntryPoint Capital LLC acquired a new stake in Quanta Services during the 1st quarter worth $25,000. Cambridge Trust Co. acquired a new stake in Quanta Services during the first quarter worth $26,000. Valley Wealth Managers Inc. purchased a new stake in Quanta Services in the 2nd quarter valued at about $33,000. Quest Partners LLC acquired a new stake in Quanta Services in the 2nd quarter valued at approximately $35,000. Finally, Eastern Bank purchased a new stake in shares of Quanta Services in the 3rd quarter valued at $44,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Quanta Services

In other news, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the completion of the sale, the insider now owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the sale, the insider now directly owns 10,631 shares in the company, valued at $2,875,791.81. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total value of $34,087,300.00. Following the sale, the chief executive officer now directly owns 593,402 shares of the company’s stock, valued at $155,595,938.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PWR. Wolfe Research assumed coverage on Quanta Services in a research report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price objective for the company. Stifel Nicolaus lifted their price target on Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Robert W. Baird upped their price objective on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Jefferies Financial Group assumed coverage on shares of Quanta Services in a report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 target price on the stock. Finally, Truist Financial boosted their target price on shares of Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Quanta Services presently has a consensus rating of “Moderate Buy” and an average target price of $314.27.

Quanta Services Price Performance

Shares of PWR stock opened at $330.98 on Friday. The firm has a market cap of $48.86 billion, a price-to-earnings ratio of 61.07 and a beta of 1.01. Quanta Services, Inc. has a one year low of $168.10 and a one year high of $333.24. The stock’s fifty day simple moving average is $294.93 and its 200 day simple moving average is $275.30. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same period last year, the company posted $2.08 EPS. Quanta Services’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, analysts expect that Quanta Services, Inc. will post 7.88 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were given a $0.09 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.11%. Quanta Services’s payout ratio is presently 6.64%.

Quanta Services Profile

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company’s Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.