Huntington National Bank Has $370,000 Stock Position in Quanta Services, Inc. (NYSE:PWR)

by · The Markets Daily

Huntington National Bank lifted its stake in Quanta Services, Inc. (NYSE:PWR – Free Report) by 2.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,240 shares of the construction company’s stock after buying an additional 35 shares during the period. Huntington National Bank’s holdings in Quanta Services were worth $370,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. EntryPoint Capital LLC bought a new position in shares of Quanta Services during the first quarter valued at $25,000. Cambridge Trust Co. acquired a new stake in Quanta Services during the 1st quarter valued at $26,000. Valley Wealth Managers Inc. bought a new position in Quanta Services in the 2nd quarter valued at $33,000. Quest Partners LLC acquired a new position in Quanta Services in the second quarter worth $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Quanta Services in the second quarter valued at $38,000. Institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on PWR. Stifel Nicolaus boosted their target price on shares of Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Citigroup boosted their price target on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. initiated coverage on shares of Quanta Services in a research report on Monday, October 7th. They set a “neutral” rating and a $297.00 target price for the company. TD Cowen lifted their price objective on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, B. Riley upped their price target on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and an average price target of $314.27.

View Our Latest Stock Report on Quanta Services

Quanta Services Trading Down 0.2 %

PWR opened at $323.33 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $47.73 billion, a P/E ratio of 59.65 and a beta of 1.01. The firm’s fifty day simple moving average is $301.80 and its 200 day simple moving average is $277.68. Quanta Services, Inc. has a 12 month low of $180.97 and a 12 month high of $335.00.

Quanta Services (NYSE:PWR – Get Free Report) last announced its earnings results 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 business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.08 earnings per share. As a group, research analysts anticipate that Quanta Services, Inc. will post 7.88 EPS for the current fiscal year.

Quanta Services Announces Dividend

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

Insider Activity at Quanta Services

In related news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the completion of the sale, the insider now owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. The trade was a 68.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is currently owned by company insiders.

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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