Precision Wealth Strategies LLC Buys Shares of 1,548 Quanta Services, Inc. (NYSE:PWR)

Precision Wealth Strategies LLC bought a new stake in Quanta Services, Inc. (NYSE:PWR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,548 shares of the construction company’s stock, valued at approximately $462,000.

Other large investors have also modified their holdings of the company. EntryPoint Capital LLC purchased a new stake in shares of Quanta Services during the first quarter worth $25,000. Private Ocean LLC purchased a new stake in shares of Quanta Services during the first quarter worth $26,000. Salomon & Ludwin LLC purchased a new stake in shares of Quanta Services during the first quarter worth $26,000. Cambridge Trust Co. purchased a new stake in shares of Quanta Services during the first quarter worth $26,000. Finally, Valley Wealth Managers Inc. purchased a new stake in shares of Quanta Services during the second quarter worth $33,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Insider Buying and Selling

In related news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 10,631 shares of the company’s stock, valued at $2,875,791.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 10,631 shares of the company’s stock, valued at $2,875,791.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the transaction, the insider now directly owns 21,286 shares of the company’s stock, valued at $5,490,297.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 202,357 shares of company stock valued at $53,115,572 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $317.64 on Tuesday. The company has a 50-day simple moving average of $282.87 and a 200-day simple moving average of $269.60. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $317.91. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30. The stock has a market capitalization of $46.50 billion, a price-to-earnings ratio of 61.56 and a beta of 1.01.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The business had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the prior year, the company earned $1.47 earnings per share. The business’s revenue was up 10.8% compared to the same quarter last year. On average, analysts predict that Quanta Services, Inc. will post 7.83 EPS for the current 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 issued 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 6.98%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PWR. Robert W. Baird upped their price objective on Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Stifel Nicolaus boosted their target price on shares of Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Jefferies Financial Group started coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They set a “hold” rating and a $256.00 target price for the company. Northland Securities boosted their target price on shares of Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Finally, Wolfe Research started coverage on shares of Quanta Services in a research note on Thursday, September 19th. They set an “outperform” rating and a $313.00 target price for the company. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $303.86.

Quanta Services Company 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.