Ameliora Wealth Management Ltd. Purchases 89 Shares of Quanta Services, Inc. (NYSE:PWR)

by · The Cerbat Gem

Ameliora Wealth Management Ltd. boosted its stake in Quanta Services, Inc. (NYSE:PWR – Free Report) by 2.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,292 shares of the construction company’s stock after purchasing an additional 89 shares during the period. Ameliora Wealth Management Ltd.’s holdings in Quanta Services were worth $982,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Nomura Holdings Inc. bought a new stake in Quanta Services in the fourth quarter worth about $631,000. Wellington Management Group LLP raised its position in shares of Quanta Services by 581.3% in the fourth quarter. Wellington Management Group LLP now owns 117,014 shares of the construction company’s stock valued at $25,252,000 after purchasing an additional 99,840 shares during the period. Vanguard Group Inc. raised its position in shares of Quanta Services by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 16,235,875 shares of the construction company’s stock valued at $3,503,702,000 after purchasing an additional 191,334 shares during the period. Allen Investment Management LLC raised its position in shares of Quanta Services by 1,418.0% in the first quarter. Allen Investment Management LLC now owns 33,396 shares of the construction company’s stock valued at $8,676,000 after purchasing an additional 31,196 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Quanta Services by 5.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock valued at $9,366,000 after acquiring an additional 1,981 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Up 0.8 %

NYSE PWR traded up $2.43 during trading on Friday, reaching $309.42. 375,099 shares of the company’s stock traded hands, compared to its average volume of 902,894. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. The firm has a market cap of $45.30 billion, a price-to-earnings ratio of 59.97 and a beta of 1.01. The company’s 50 day simple moving average is $275.77 and its two-hundred day simple moving average is $267.31. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $312.52.

Quanta Services (NYSE:PWR – Get Free Report) last posted 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. The business had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.47 EPS. As a group, sell-side analysts forecast that Quanta Services, Inc. will post 7.81 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services’s payout ratio is currently 6.98%.

Insider Transactions at Quanta Services

In other news, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total value of $34,087,300.00. Following the transaction, the chief executive officer now owns 593,402 shares of the company’s stock, valued at $155,595,938.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Quanta Services 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 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 owns 593,402 shares of the company’s stock, valued at approximately $155,595,938.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 sale, the insider now directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 202,357 shares of company stock valued at $53,115,572 in the last 90 days. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PWR shares. Robert W. Baird upped their price objective on shares of Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. TD Cowen upped their price objective on shares of Quanta Services from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Northland Securities upped their price objective on shares of Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Citigroup upped their price objective on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Finally, Truist Financial upped their price objective on shares of Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $299.93.

Get Our Latest Stock Report on Quanta Services

About Quanta Services

(Free Report)

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.

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