Farmers Trust Co. Acquires 285 Shares of Quanta Services, Inc. (NYSE:PWR)

Farmers Trust Co. lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 26.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,380 shares of the construction company’s stock after buying an additional 285 shares during the period. Farmers Trust Co.’s holdings in Quanta Services were worth $411,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PWR. EntryPoint Capital LLC bought a new position in Quanta Services in the first quarter valued at approximately $25,000. Private Ocean LLC bought a new position in shares of Quanta Services in the first quarter valued at $26,000. Salomon & Ludwin LLC acquired a new position in Quanta Services during the first quarter worth $26,000. Cambridge Trust Co. bought a new stake in Quanta Services during the first quarter worth $26,000. Finally, Valley Wealth Managers Inc. acquired a new stake in Quanta Services in the second quarter valued at $33,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $298.40 on Friday. The firm has a 50 day moving average of $268.37 and a 200-day moving average of $264.67. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $306.50. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $43.96 billion, a PE ratio of 57.83 and a beta of 1.01.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $5.51 billion. During the same period in the previous year, the business earned $1.47 earnings per share. The company’s revenue was up 10.8% on a year-over-year basis. On average, equities research analysts predict 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. Shareholders of record on Tuesday, October 1st will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend is Tuesday, October 1st. Quanta Services’s dividend payout ratio is presently 6.98%.

Insiders Place Their Bets

In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 21,286 shares in the company, valued at approximately $5,490,297.98. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the 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 transaction, the insider now directly owns 21,286 shares in the company, valued at approximately $5,490,297.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO James Redgie Probst sold 34,000 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $260.03, for a total value of $8,841,020.00. Following the sale, the chief operating officer now directly owns 29,002 shares in the company, valued at approximately $7,541,390.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on PWR. TD Cowen raised their target price on shares of Quanta Services from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Truist Financial reiterated a “buy” rating and set a $319.00 target price (up from $305.00) on shares of Quanta Services in a research note on Monday, August 5th. Citigroup raised their target price on shares of Quanta Services from $299.00 to $302.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Jefferies Financial Group began coverage on shares of Quanta Services in a report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price target on the stock. Finally, Northland Securities upped their target price on Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.