Parcion Private Wealth LLC Takes Position in Quanta Services, Inc. (NYSE:PWR)

Parcion Private Wealth LLC acquired a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 866 shares of the construction company’s stock, valued at approximately $258,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC lifted its stake in Quanta Services by 11.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 34,881 shares of the construction company’s stock worth $9,062,000 after acquiring an additional 3,640 shares during the period. Hennion & Walsh Asset Management Inc. lifted its stake in Quanta Services by 44.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 10,848 shares of the construction company’s stock worth $2,818,000 after acquiring an additional 3,334 shares during the period. Private Ocean LLC purchased a new stake in Quanta Services in the first quarter worth $26,000. Diversified Trust Co purchased a new stake in Quanta Services in the first quarter worth $328,000. Finally, Park Place Capital Corp lifted its stake in Quanta Services by 927.0% in the first quarter. Park Place Capital Corp now owns 914 shares of the construction company’s stock worth $237,000 after acquiring an additional 825 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Insider Activity at Quanta Services

In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the completion of the transaction, the chief executive officer now directly owns 593,402 shares in the company, valued at approximately $155,595,938.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the completion of the transaction, the insider now directly owns 10,631 shares in the company, valued at $2,875,791.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was 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 owns 593,402 shares of the company’s stock, valued at $155,595,938.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 202,357 shares of company stock worth $53,115,572. 1.10% of the stock is owned by company insiders.

Quanta Services Price Performance

NYSE PWR opened at $308.17 on Friday. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $317.91. The stock has a 50-day moving average of $286.43 and a 200 day 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. 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 released 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 business 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%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.47 EPS. On average, sell-side analysts forecast that Quanta Services, Inc. will post 7.82 EPS for the current year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.09 per share. 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%.

Analyst Upgrades and Downgrades

PWR has been the subject of several recent research reports. Wolfe Research initiated coverage on Quanta Services in a research report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price objective for the company. B. Riley raised their price objective on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Northland Securities raised their price objective on Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Robert W. Baird raised their price objective on Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Finally, UBS Group raised their price objective on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research report on Wednesday. Four research 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.com, Quanta Services has an average rating of “Moderate Buy” and a consensus price target of $308.07.

About Quanta Services

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.