7,826 Shares in Quanta Services, Inc. (NYSE:PWR) Acquired by Rockingstone Advisors LLC

Rockingstone Advisors LLC bought a new position in shares of Quanta Services, Inc. (NYSE:PWR) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,826 shares of the construction company’s stock, valued at approximately $2,333,000.

Other large investors have also bought and sold shares of the company. EntryPoint Capital LLC bought a new position in shares of Quanta Services during the 1st quarter worth approximately $25,000. Private Ocean LLC bought a new position in shares of Quanta Services during the 1st quarter worth approximately $26,000. Salomon & Ludwin LLC bought a new position in shares of Quanta Services during the 1st quarter worth approximately $26,000. Cambridge Trust Co. bought a new position in shares of Quanta Services during the 1st quarter worth approximately $26,000. Finally, Valley Wealth Managers Inc. bought a new position in shares of Quanta Services during the 2nd quarter worth approximately $33,000. 90.49% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 21,286 shares of the company’s stock, valued at approximately $5,490,297.98. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the transaction, the insider now directly owns 10,631 shares of the company’s stock, valued at $2,875,791.81. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 21,286 shares in the company, valued at $5,490,297.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 202,357 shares of company stock valued at $53,115,572 over the last ninety days. 1.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PWR shares. JPMorgan Chase & Co. started coverage on shares of Quanta Services in a research note on Monday. They set a “neutral” rating and a $297.00 price target for the company. Robert W. Baird raised 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. Citigroup raised their target price on shares of Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a research note on Friday, October 4th. 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. Finally, Jefferies Financial Group started coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They issued a “hold” rating and a $256.00 target price for the company. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and an average price target of $290.71.

Quanta Services Stock Performance

NYSE:PWR opened at $308.67 on Wednesday. The stock has a market cap of $45.19 billion, a P/E ratio of 59.82 and a beta of 1.01. 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’s 50-day moving average is $272.51 and its 200-day moving average is $266.31. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $312.52.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. The company had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.47 earnings per share. Equities research analysts anticipate that Quanta Services, Inc. will post 7.82 earnings per share for the current year.

Quanta Services Announces Dividend

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

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.