Farther Finance Advisors LLC increased its holdings in Quanta Services, Inc. (NYSE: PWR – Free report) by 12.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,088 shares of the construction company’s stock after purchasing an additional 124 shares during the quarter. Farther Finance Advisors LLC’s holdings in Quanta Services were worth $324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of PWR. EntryPoint Capital LLC bought a new position in shares of Quanta Services in the first quarter valued at $25,000. Cambridge Trust Co. purchased a new position in Quanta Services in the first quarter valued at about $26,000. Valley Wealth Managers Inc. bought a new position in shares of Quanta Services in the second quarter valued at about $33,000. Quest Partners LLC purchased a new stake in shares of Quanta Services in the second quarter valued at about $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Quanta Services in the second quarter valued at about $38,000. 90.49% of shares are held by hedge funds and other institutional investors.

Indoor activity

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 10,631 shares in the company, valued at approximately $2,875,791.81. This represents a 0.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible via SEC website. In other Quanta Services 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 completion of the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available via SEC website. Also, the 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 sale, the chief executive officer now directly owns 593,402 shares of the company’s stock, valued at approximately $155,595,938.42. This trade represents a 0.00 % decrease in the stock holding. Disclosure for this sale can be found Here. Insiders hold 1.10% of the company’s shares.

Changes in Analyst Ratings

Several equities analysts have recently issued reports on PWR shares. JPMorgan Chase & Co. initiated coverage on Quanta Services in a research report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price objective on the stock. Jefferies Financial Group started coverage on Quanta Services in a research report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price objective on the stock. Citigroup upped their price target on Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Truist Financial lifted their price target on shares of Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Northland Securities restated an “outperform” rating and set a $328.00 price objective (up previously from $280.00) on shares of Quanta Services in a research report on Friday , November 1. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Quanta Services currently has an average rating of “Moderate Buy” and a consensus price target of $314.27, according to MarketBeat .

Check out our latest research report on PWR

Quanta Services trading up 3.2%

NYSE: PWR opened at $330.97 on Friday. Quanta Services, Inc. it has a one year low of $168.10 and a one year high of $333.24. The company has a fifty day moving average price of $294.93 and a 200 day moving average price of $275.13. The firm has a market cap of $48.85 billion, a price-to-earnings ratio of 61.06 and a beta of 1.01. 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 – Get a free report) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.46 by $0.26. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. In the same quarter last year, the company earned $2.08 per share. Sell-side analysts forecast that Quanta Services, Inc. will post 7.88 EPS for the current year.

Quanta Services Dividend Announcement

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

About Quanta Services

(Free report)

Quanta Services, Inc provides infrastructure solutions for the electric and gas utilities, 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, acquisition, construction, modernization, repair and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance and modernization of electricity infrastructure projects; the installation of smart grid technologies on electricity grids; and the design, installation, maintenance and repair of commercial and industrial wiring.

See Also

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