Advisor Resource Council Invests $984,000 in Quanta Services, Inc. (NYSE:PWR)

Advisor Resource Council acquired a new position in Quanta Services, Inc. (NYSE:PWR) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,299 shares of the construction company’s stock, valued at approximately $984,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Quanta Services by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock worth $4,245,452,000 after acquiring an additional 105,355 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Quanta Services by 2.4% in the 1st quarter. JPMorgan Chase & Co. now owns 6,760,260 shares of the construction company’s stock worth $1,756,316,000 after purchasing an additional 156,627 shares in the last quarter. Capital World Investors lifted its stake in shares of Quanta Services by 10.7% during the first quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock worth $1,726,042,000 after buying an additional 643,011 shares during the period. Electron Capital Partners LLC increased its holdings in Quanta Services by 395.1% in the 2nd quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock worth $666,260,000 after buying an additional 2,092,519 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Quanta Services by 17.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock worth $313,968,000 after buying an additional 186,306 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Citigroup boosted their price target on Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a report on Friday, October 4th. JPMorgan Chase & Co. initiated coverage on Quanta Services in a research report on Monday, October 7th. They set a “neutral” rating and a $297.00 price target for the company. B. Riley boosted their price target on Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Wolfe Research initiated coverage on Quanta Services in a report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 target price for the company. Finally, TD Cowen upped their price target on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and an average target price of $314.27.

Quanta Services Stock Performance

Shares of PWR stock opened at $310.82 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a fifty day moving average price of $292.81 and a 200 day moving average price of $274.22. The stock has a market cap of $45.88 billion, a PE ratio of 57.35 and a beta of 1.01. Quanta Services, Inc. has a 1 year low of $163.93 and a 1 year high of $317.91.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. The firm had revenue of $6.49 billion during 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 firm’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.08 earnings per share. Sell-side analysts forecast that Quanta Services, Inc. will post 7.83 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were issued 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 was Tuesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is presently 6.64%.

Insider Buying and Selling

In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now owns 593,402 shares in the company, valued at $155,595,938.42. This 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 available at this link. In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction dated 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 approximately $155,595,938.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Karl W. Studer sold 23,357 shares of Quanta Services 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 sale, the insider now directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. This trade 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 in the last three months. 1.10% of the stock is currently owned by corporate insiders.

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.