IFM Investors Pty Ltd Buys 534 Shares of Quanta Services, Inc. (NYSE:PWR)

IFM Investors Pty Ltd boosted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 1.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,663 shares of the construction company’s stock after purchasing an additional 534 shares during the period. IFM Investors Pty Ltd’s holdings in Quanta Services were worth $8,844,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bogart Wealth LLC lifted its position in Quanta Services by 486,600.0% during the third quarter. Bogart Wealth LLC now owns 14,601 shares of the construction company’s stock valued at $4,353,000 after purchasing an additional 14,598 shares during the period. Hennion & Walsh Asset Management Inc. raised its position in Quanta Services by 39.9% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 16,780 shares of the construction company’s stock worth $5,003,000 after acquiring an additional 4,786 shares during the period. Great Lakes Retirement Inc. raised its position in Quanta Services by 3.0% in the third quarter. Great Lakes Retirement Inc. now owns 13,657 shares of the construction company’s stock worth $4,072,000 after acquiring an additional 394 shares during the period. International Assets Investment Management LLC raised its position in Quanta Services by 29,655.3% in the third quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company’s stock worth $44,269,000 after acquiring an additional 147,980 shares during the period. Finally, Axecap Investments LLC bought a new position in Quanta Services in the third quarter worth approximately $255,000. Institutional investors own 90.49% of the company’s stock.

Insiders Place Their Bets

In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total value of $34,087,300.00. Following the completion of the transaction, the chief executive officer now directly owns 593,402 shares of the company’s stock, valued at $155,595,938.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total value of $34,087,300.00. Following the completion of the sale, the chief executive officer now owns 593,402 shares in the company, valued at approximately $155,595,938.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Karl W. Studer sold 23,357 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now owns 10,631 shares of the company’s stock, valued at $2,875,791.81. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 202,357 shares of company stock valued at $53,115,572 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Northland Securities increased their price target on shares of Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. assumed coverage on shares of Quanta Services in a research report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price target on the stock. Robert W. Baird increased their price target on shares of Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Wolfe Research assumed coverage on shares of Quanta Services in a research note on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price objective for the company. Finally, Stifel Nicolaus increased their price objective on shares of Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $308.07.

Quanta Services Stock Performance

PWR opened at $308.17 on Friday. The stock has a market capitalization of $45.40 billion, a price-to-earnings ratio of 58.15 and a beta of 1.01. The company has a fifty day moving average of $286.43 and a 200 day moving average of $270.80. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $317.91. 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 (NYSE:PWR) last posted its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share 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 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 company posted $1.47 earnings per share. Quanta Services’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, sell-side analysts forecast that Quanta Services, Inc. will post 7.82 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were paid a $0.09 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services’s payout ratio is currently 6.79%.

Quanta Services Company 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.