Sequoia Financial Advisors LLC Raises Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Sequoia Financial Advisors LLC raised its stake in Quanta Services, Inc. (NYSE:PWR) by 252.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,372 shares of the construction company’s stock after purchasing an additional 3,849 shares during the period. Sequoia Financial Advisors LLC’s holdings in Quanta Services were worth $1,602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in 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 purchased a new position in Quanta Services in the first quarter worth $26,000. Salomon & Ludwin LLC acquired a new position in shares of Quanta Services during the first quarter worth $26,000. Cambridge Trust Co. acquired a new position in shares of Quanta Services during the first quarter worth $26,000. Finally, Valley Wealth Managers Inc. purchased a new stake in shares of Quanta Services during the 2nd quarter valued at $33,000. 90.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on PWR shares. Stifel Nicolaus upped their target price on Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. TD Cowen upped their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. initiated coverage on shares of Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 target price for the company. Robert W. Baird boosted their target price 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. Finally, Jefferies Financial Group assumed coverage on shares of Quanta Services in a report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price target for the company. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $308.07.

Insiders Place Their Bets

In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction dated 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 sale, the insider now directly owns 21,286 shares in the company, valued at approximately $5,490,297.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total value of $6,318,302.07. Following the completion of the sale, the insider now owns 10,631 shares in the company, valued at approximately $2,875,791.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 shares were sold at an average price of $257.93, for a total value of $3,868,950.00. Following the completion of the sale, the insider now owns 21,286 shares of the company’s stock, valued at $5,490,297.98. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 202,357 shares of company stock worth $53,115,572. 1.10% of the stock is owned by corporate insiders.

Quanta Services Stock Performance

Shares of PWR stock opened at $309.93 on Friday. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $317.91. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45. The stock has a market cap of $45.66 billion, a PE ratio of 58.48 and a beta of 1.01. The business has a 50-day simple moving average of $285.59 and a 200-day simple moving average of $270.48.

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

Quanta Services Announces Dividend

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

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.