Sheaff Brock Investment Advisors LLC Purchases New Shares in Quanta Services, Inc. (NYSE:PWR)

Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWRGet Rating) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,012 shares of the construction company’s stock, valued at approximately $265,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. lifted its holdings in Quanta Services by 435.0% during the fourth quarter. Benjamin Edwards Inc. now owns 214 shares of the construction company’s stock valued at $25,000 after purchasing an additional 174 shares in the last quarter. Riverview Trust Co purchased a new position in Quanta Services during the first quarter valued at $34,000. First Horizon Advisors Inc. lifted its holdings in Quanta Services by 113.3% during the fourth quarter. First Horizon Advisors Inc. now owns 320 shares of the construction company’s stock valued at $35,000 after purchasing an additional 170 shares in the last quarter. Allworth Financial LP lifted its holdings in Quanta Services by 1,656.3% during the first quarter. Allworth Financial LP now owns 281 shares of the construction company’s stock valued at $37,000 after purchasing an additional 265 shares in the last quarter. Finally, Cyrus J. Lawrence LLC purchased a new position in Quanta Services during the first quarter valued at $38,000. Institutional investors and hedge funds own 87.16% of the company’s stock.

Insider Activity at Quanta Services

In related news, CEO Earl C. Jr. Austin sold 135,000 shares of Quanta Services stock in a transaction that occurred on Friday, June 10th. The shares were sold at an average price of $126.48, for a total value of $17,074,800.00. Following the completion of the transaction, the chief executive officer now owns 689,030 shares in the company, valued at $87,148,514.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Vincent D. Foster sold 14,948 shares of Quanta Services stock in a transaction that occurred on Wednesday, June 22nd. The shares were sold at an average price of $119.01, for a total value of $1,778,961.48. Following the completion of the transaction, the director now owns 204,925 shares in the company, valued at $24,388,124.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Earl C. Jr. Austin sold 135,000 shares of Quanta Services stock in a transaction that occurred on Friday, June 10th. The stock was sold at an average price of $126.48, for a total transaction of $17,074,800.00. Following the completion of the transaction, the chief executive officer now owns 689,030 shares of the company’s stock, valued at approximately $87,148,514.40. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Quanta Services Price Performance

Shares of PWR opened at $136.91 on Friday. Quanta Services, Inc. has a 1-year low of $90.09 and a 1-year high of $146.84. The stock has a market cap of $19.68 billion, a PE ratio of 41.49 and a beta of 1.10. The firm has a 50-day simple moving average of $128.11 and a two-hundred day simple moving average of $120.39. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.51 and a quick ratio of 1.48.

Quanta Services (NYSE:PWRGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The construction company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.16. The business had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.03 billion. Quanta Services had a net margin of 3.38% and a return on equity of 14.98%. The business’s revenue for the quarter was up 41.1% on a year-over-year basis. During the same period last year, the business earned $0.93 earnings per share. As a group, analysts forecast that Quanta Services, Inc. will post 5.79 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Friday, July 1st were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date was Thursday, June 30th. Quanta Services’s dividend payout ratio (DPR) is currently 8.48%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PWR shares. Citigroup increased their price objective on shares of Quanta Services from $145.00 to $152.00 in a report on Friday, July 22nd. UBS Group raised shares of Quanta Services from a “neutral” rating to a “buy” rating and raised their price target for the stock from $140.00 to $156.00 in a research note on Monday, June 13th. KeyCorp raised their price target on shares of Quanta Services from $129.00 to $156.00 in a research note on Thursday, April 14th. Cowen raised their price target on shares of Quanta Services from $130.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, May 26th. Finally, Robert W. Baird raised their price target on shares of Quanta Services from $136.00 to $147.00 and gave the stock an “outperform” rating in a research note on Friday. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $144.31.

About Quanta Services

(Get Rating)

Quanta Services, Inc provides specialty contracting services worldwide. The 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; energized 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.

Further Reading

Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

Receive News & Ratings for Quanta Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanta Services and related companies with MarketBeat.com's FREE daily email newsletter.