Quanta Services, Inc. (NYSE:PWR) Stock Holdings Lifted by Exchange Traded Concepts LLC

by · The Markets Daily

Exchange Traded Concepts LLC raised its position in shares of Quanta Services, Inc. (NYSE:PWR – Free Report) by 65.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,427 shares of the construction company’s stock after purchasing an additional 4,906 shares during the period. Exchange Traded Concepts LLC’s holdings in Quanta Services were worth $3,705,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. V Square Quantitative Management LLC lifted its stake in Quanta Services by 34.3% in the fourth quarter. V Square Quantitative Management LLC now owns 2,539 shares of the construction company’s stock valued at $548,000 after acquiring an additional 648 shares during the last quarter. Centaurus Financial Inc. boosted its holdings in Quanta Services by 28.9% in the fourth quarter. Centaurus Financial Inc. now owns 1,985 shares of the construction company’s stock worth $428,000 after purchasing an additional 445 shares in the last quarter. Wellington Management Group LLP increased its position in Quanta Services by 581.3% during the fourth quarter. Wellington Management Group LLP now owns 117,014 shares of the construction company’s stock worth $25,252,000 after buying an additional 99,840 shares during the last quarter. SageView Advisory Group LLC bought a new position in Quanta Services during the fourth quarter valued at about $2,183,000. Finally, Wahed Invest LLC lifted its position in shares of Quanta Services by 7.3% in the fourth quarter. Wahed Invest LLC now owns 2,454 shares of the construction company’s stock worth $530,000 after buying an additional 166 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Quanta Services

In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 593,402 shares in the company, valued at approximately $155,595,938.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $257.93, for a total value of $3,868,950.00. Following the completion of the sale, the insider now directly owns 21,286 shares in the company, valued at approximately $5,490,297.98. 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 available through this link. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s stock in a transaction dated 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 position. The disclosure for this sale can be found here. Insiders have sold 202,357 shares of company stock worth $53,115,572 over the last three months. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

PWR has been the topic of a number of analyst reports. B. Riley increased their price objective on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a report on Friday, August 2nd. TD Cowen lifted their price target on shares of Quanta Services from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Stifel Nicolaus upped their price objective on shares of Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a report on Thursday. Wolfe Research began coverage on shares of Quanta Services in a report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 target price on the stock. Finally, JPMorgan Chase & Co. initiated coverage on shares of Quanta Services in a report on Monday, October 7th. They set a “neutral” rating and a $297.00 price target for the company. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and an average price target of $299.93.

Check Out Our Latest Analysis on Quanta Services

Quanta Services Trading Up 0.8 %

Quanta Services stock opened at $309.42 on Monday. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $312.52. The stock has a market cap of $45.30 billion, a price-to-earnings ratio of 59.97 and a beta of 1.01. The business has a 50 day moving average price of $275.77 and a two-hundred day moving average price of $267.36. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45.

Quanta Services (NYSE:PWR – Get Free Report) last issued its earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.75 by $0.15. The firm had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. Quanta Services’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the business earned $1.47 earnings per share. As a group, equities analysts forecast that Quanta Services, Inc. will post 7.81 EPS for the current year.

Quanta Services Dividend Announcement

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

Quanta Services Company Profile

(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.

Featured Articles

Want to see what other hedge funds are holding PWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quanta Services, Inc. (NYSE:PWR – Free Report).