Lake Street Advisors Group LLC Increases Stake in Quanta Services, Inc. (NYSE:PWR)

Lake Street Advisors Group LLC raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 4.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,503 shares of the construction company’s stock after purchasing an additional 67 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Quanta Services were worth $448,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Ballentine Partners LLC grew its position in shares of Quanta Services by 2.5% in the third quarter. Ballentine Partners LLC now owns 3,123 shares of the construction company’s stock valued at $931,000 after purchasing an additional 77 shares in the last quarter. Zweig DiMenna Associates LLC boosted its stake in Quanta Services by 12.2% during the third quarter. Zweig DiMenna Associates LLC now owns 72,106 shares of the construction company’s stock worth $21,498,000 after buying an additional 7,850 shares during the last quarter. Values First Advisors Inc. grew its holdings in Quanta Services by 16.8% in the 3rd quarter. Values First Advisors Inc. now owns 1,399 shares of the construction company’s stock valued at $417,000 after buying an additional 201 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Quanta Services by 10.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 5,349 shares of the construction company’s stock worth $1,595,000 after acquiring an additional 526 shares during the period. Finally, IFM Investors Pty Ltd boosted its position in shares of Quanta Services by 1.8% during the 3rd quarter. IFM Investors Pty Ltd now owns 29,663 shares of the construction company’s stock valued at $8,844,000 after acquiring an additional 534 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Price Performance

Shares of PWR opened at $308.17 on Friday. 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 fifty-two week low of $153.74 and a fifty-two week high of $317.91. The firm has a 50-day simple moving average of $286.43 and a 200-day simple moving average of $270.90. The company has a market capitalization of $45.40 billion, a price-to-earnings ratio of 58.15 and a beta of 1.01.

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

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.12%. The ex-dividend date was Tuesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is presently 6.79%.

Wall Street Analysts Forecast Growth

PWR has been the topic of several analyst reports. Wolfe Research started coverage on shares of Quanta Services in a research report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price target on the stock. Citigroup lifted their target price on Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a report on Friday, October 4th. Jefferies Financial Group started coverage on shares of Quanta Services in a report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price target for the company. Northland Securities raised their price objective on shares of Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. began coverage on Quanta Services in a report on Monday, October 7th. They issued a “neutral” rating and a $297.00 target price on the stock. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $308.07.

Insider Activity

In related news, COO James Redgie Probst sold 34,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief operating officer now owns 29,002 shares in the company, valued at $7,541,390.06. This trade 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 at this link. In related news, COO James Redgie Probst sold 34,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $260.03, for a total value of $8,841,020.00. Following the sale, the chief operating officer now owns 29,002 shares in the company, valued at $7,541,390.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services 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 transaction, the insider now directly owns 21,286 shares of the company’s stock, valued at $5,490,297.98. This trade represents a 0.00 % decrease in their position. 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 quarter. Corporate insiders own 1.10% of the company’s stock.

Quanta Services 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.