Creative Planning Purchases 1,562 Shares of Quanta Services, Inc. (NYSE:PWR)

Creative Planning increased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 7.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,262 shares of the construction company’s stock after acquiring an additional 1,562 shares during the period. Creative Planning’s holdings in Quanta Services were worth $6,637,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new position in shares of Quanta Services in the 1st quarter valued at $25,000. Private Ocean LLC bought a new position in Quanta Services in the first quarter valued at about $26,000. Salomon & Ludwin LLC acquired a new position in Quanta Services during the first quarter worth about $26,000. Cambridge Trust Co. bought a new position in shares of Quanta Services in the first quarter worth about $26,000. Finally, Valley Wealth Managers Inc. acquired a new stake in shares of Quanta Services in the 2nd quarter valued at approximately $33,000. 90.49% of the stock is owned by institutional investors.

Insider Buying and Selling at Quanta Services

In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction on Friday, August 9th. The shares were 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 owns 21,286 shares in the company, valued at $5,490,297.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO James Redgie Probst sold 34,000 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the transaction, the chief operating officer now directly owns 29,002 shares in the company, valued at $7,541,390.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is currently owned by company insiders.

Quanta Services Stock Down 2.0 %

Shares of NYSE PWR opened at $306.63 on Thursday. The company’s 50 day moving average price is $284.75 and its 200-day moving average price is $270.21. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $317.91. The company has a market capitalization of $44.89 billion, a P/E ratio of 59.42 and a beta of 1.01.

Quanta Services (NYSE:PWR) last issued its quarterly 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. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The business had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the firm posted $1.47 earnings per share. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. Equities analysts forecast that Quanta Services, Inc. will post 7.82 earnings per share for the current year.

Quanta Services Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. UBS Group upped their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research report on Wednesday. Truist Financial increased their price target on Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. began coverage on Quanta Services in a research report on Monday, October 7th. They set a “neutral” rating and a $297.00 price objective on the stock. Robert W. Baird increased their target price on Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Finally, Wolfe Research started coverage on Quanta Services in a research note on Thursday, September 19th. They set an “outperform” rating and a $313.00 price target on the stock. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and an average target price of $308.07.

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.