McKinley Carter Wealth Services Inc. Invests $7.71 Million in Quanta Services, Inc. $PWR

McKinley Carter Wealth Services Inc. acquired a new position in Quanta Services, Inc. (NYSE:PWR) in the 3rd quarter, Holdings Channel reports. The firm acquired 18,603 shares of the construction company’s stock, valued at approximately $7,709,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Brighton Jones LLC purchased a new stake in Quanta Services during the 4th quarter worth $298,000. Woodline Partners LP increased its holdings in Quanta Services by 40.7% in the first quarter. Woodline Partners LP now owns 12,471 shares of the construction company’s stock valued at $3,170,000 after buying an additional 3,606 shares during the last quarter. Capital Investment Advisors LLC acquired a new stake in shares of Quanta Services during the 2nd quarter valued at approximately $217,000. Cooper Financial Group bought a new position in shares of Quanta Services in the 2nd quarter worth about $428,000. Finally, Trilogy Capital Inc. acquired a new position in Quanta Services in the second quarter valued at approximately $234,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Price Performance

Shares of Quanta Services stock opened at $474.80 on Friday. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $489.05. The firm has a market cap of $70.80 billion, a P/E ratio of 70.34, a price-to-earnings-growth ratio of 2.34 and a beta of 1.16. The firm’s 50-day simple moving average is $448.17 and its 200-day simple moving average is $422.30. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.34.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.24 by $0.09. The firm had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.41 billion. Quanta Services had a net margin of 3.74% and a return on equity of 18.74%. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period last year, the firm posted $2.72 EPS. As a group, research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Insider Transactions at Quanta Services

In other news, EVP Donald Wayne sold 14,000 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $443.81, for a total value of $6,213,340.00. Following the transaction, the executive vice president owned 34,575 shares of the company’s stock, valued at approximately $15,344,730.75. This trade represents a 28.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gerald A. Ducey, Jr. sold 7,653 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $446.08, for a total transaction of $3,413,850.24. Following the sale, the insider owned 19,960 shares of the company’s stock, valued at $8,903,756.80. The trade was a 27.72% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 32,002 shares of company stock worth $14,295,857. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PWR. Cantor Fitzgerald started coverage on Quanta Services in a research report on Friday, January 23rd. They set an “overweight” rating and a $520.00 price objective for the company. Stifel Nicolaus increased their price objective on Quanta Services from $495.00 to $517.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Robert W. Baird set a $490.00 price objective on shares of Quanta Services in a research note on Friday, October 31st. Citigroup upped their target price on Quanta Services from $526.00 to $540.00 and gave the company a “buy” rating in a report on Monday. Finally, Evercore ISI lifted their price objective on Quanta Services from $410.00 to $480.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Thirteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and an average target price of $462.00.

Quanta Services Company Profile

Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.

In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.