Garden State Investment Advisory Services LLC Acquires Shares of 811 Quanta Services, Inc. (NYSE:PWR)

Garden State Investment Advisory Services LLC acquired a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 811 shares of the construction company’s stock, valued at approximately $206,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nomura Holdings Inc. acquired a new stake in Quanta Services during the 4th quarter valued at approximately $631,000. Wellington Management Group LLP lifted its stake in Quanta Services by 581.3% during the 4th quarter. Wellington Management Group LLP now owns 117,014 shares of the construction company’s stock valued at $25,252,000 after acquiring an additional 99,840 shares during the period. Vanguard Group Inc. lifted its stake in Quanta Services by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 16,235,875 shares of the construction company’s stock valued at $3,503,702,000 after acquiring an additional 191,334 shares during the period. Allen Investment Management LLC lifted its stake in Quanta Services by 1,418.0% during the 1st quarter. Allen Investment Management LLC now owns 33,396 shares of the construction company’s stock valued at $8,676,000 after acquiring an additional 31,196 shares during the period. Finally, Public Employees Retirement Association of Colorado lifted its stake in shares of Quanta Services by 20,298.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,057,681 shares of the construction company’s stock valued at $228,248,000 after purchasing an additional 1,052,496 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Quanta Services

In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $5,490,297.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total value 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 $2,875,791.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the completion of the sale, the insider now directly owns 21,286 shares of the company’s stock, valued at approximately $5,490,297.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is owned by company insiders.

Quanta Services Price Performance

Quanta Services stock opened at $290.89 on Friday. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $293.80. The firm has a market capitalization of $42.58 billion, a price-to-earnings ratio of 56.37 and a beta of 1.01. The company has a fifty day simple moving average of $262.17 and a 200-day simple moving average of $261.57. 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) last released its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the prior year, the firm earned $1.47 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities analysts anticipate that Quanta Services, Inc. will post 7.82 EPS for the current fiscal year.

Quanta Services Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PWR. Argus boosted their target price on shares of Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Citigroup boosted their target price on shares of Quanta Services from $299.00 to $302.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Robert W. Baird boosted their target price 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. Wolfe Research began coverage on shares of Quanta Services in a research note on Thursday. They issued an “outperform” rating and a $313.00 target price for the company. Finally, B. Riley boosted their target price on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and an average price target of $286.69.

About Quanta Services

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.