Quanta Services, Inc. (NYSE:PWR) Shares Bought by Aptus Capital Advisors LLC

Aptus Capital Advisors LLC lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 790.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,658 shares of the construction company’s stock after acquiring an additional 31,655 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Quanta Services were worth $10,631,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. First Heartland Consultants Inc. acquired a new stake in Quanta Services in the third quarter valued at approximately $451,000. Meridian Management Co. increased its holdings in shares of Quanta Services by 0.5% in the 3rd quarter. Meridian Management Co. now owns 11,311 shares of the construction company’s stock valued at $3,372,000 after acquiring an additional 61 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Quanta Services by 0.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 347,643 shares of the construction company’s stock worth $103,650,000 after purchasing an additional 2,014 shares in the last quarter. Waverton Investment Management Ltd grew its position in shares of Quanta Services by 6.5% in the 3rd quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock valued at $12,509,000 after buying an additional 2,557 shares during the last quarter. Finally, Harbour Investments Inc. lifted its position in Quanta Services by 3.7% in the third quarter. Harbour Investments Inc. now owns 4,215 shares of the construction company’s stock valued at $1,257,000 after acquiring an additional 150 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PWR shares. Robert W. Baird lifted their target price on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Citigroup boosted their price objective on Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Truist Financial lifted their target price on shares of Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. initiated coverage on shares of Quanta Services in a research note on Monday, October 7th. They set a “neutral” rating and a $297.00 price target for the company. Finally, TD Cowen raised their price target on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $314.27.

Quanta Services Stock Down 1.3 %

NYSE PWR traded down $4.33 during trading hours on Tuesday, reaching $325.36. 91,641 shares of the company traded hands, compared to its average volume of 894,341. The stock has a market capitalization of $48.03 billion, a PE ratio of 60.83 and a beta of 1.01. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 12 month low of $173.62 and a 12 month high of $335.00. The company has a 50 day moving average of $296.02 and a two-hundred day moving average of $275.98.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $6.56 billion. During the same period last year, the firm earned $2.08 earnings per share. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities analysts expect that Quanta Services, Inc. will post 7.88 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is presently 6.64%.

Insider Buying and Selling at Quanta Services

In related news, insider Karl W. Studer sold 23,357 shares of the firm’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 owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the business’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 transaction of $34,087,300.00. Following the completion of the transaction, the chief executive officer now directly owns 593,402 shares in the company, valued at approximately $155,595,938.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction on Wednesday, August 21st. The shares were 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

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.