Forte Capital LLC ADV Grows Stock Position in Quanta Services, Inc. (NYSE:PWR)

Forte Capital LLC ADV boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 15.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,620 shares of the construction company’s stock after buying an additional 759 shares during the quarter. Forte Capital LLC ADV’s holdings in Quanta Services were worth $1,676,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. EntryPoint Capital LLC purchased a new position in Quanta Services during the first quarter valued at $25,000. Cambridge Trust Co. purchased a new position in shares of Quanta Services during the 1st quarter valued at about $26,000. Valley Wealth Managers Inc. bought a new position in shares of Quanta Services during the 2nd quarter valued at approximately $33,000. Quest Partners LLC purchased a new stake in Quanta Services in the 2nd quarter worth approximately $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new stake in Quanta Services during the 2nd quarter worth approximately $38,000. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Robert W. Baird increased their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Stifel Nicolaus lifted their price objective on shares of Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. initiated coverage on shares of Quanta Services in a research report on Monday, October 7th. They set a “neutral” rating and a $297.00 target price for the company. Finally, Wolfe Research started coverage on shares of Quanta Services in a report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price target on the stock. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Quanta Services presently has a consensus rating of “Moderate Buy” and an average target price of $314.27.

Quanta Services Stock Down 1.2 %

NYSE PWR opened at $310.82 on Thursday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 52 week low of $163.93 and a 52 week high of $317.91. The firm has a market capitalization of $45.88 billion, a price-to-earnings ratio of 57.35 and a beta of 1.01. The company has a fifty day moving average of $292.81 and a two-hundred day moving average of $274.22.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the previous year, the business earned $2.08 earnings per share. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, analysts predict that Quanta Services, Inc. will post 7.83 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services’s dividend payout ratio is presently 6.64%.

Insider Activity at Quanta Services

In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the transaction, the chief executive officer now owns 593,402 shares in the company, valued at approximately $155,595,938.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the transaction, the chief executive officer now directly owns 593,402 shares in the company, valued at approximately $155,595,938.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Karl W. Studer sold 23,357 shares of the business’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 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 trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 202,357 shares of company stock worth $53,115,572. Company insiders own 1.10% of the company’s stock.

About Quanta Services

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.