Apollon Wealth Management LLC Increases Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Apollon Wealth Management LLC increased its holdings in Quanta Services, Inc. (NYSE:PWR) by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,072 shares of the construction company’s stock after purchasing an additional 122 shares during the period. Apollon Wealth Management LLC’s holdings in Quanta Services were worth $1,810,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PWR. EntryPoint Capital LLC purchased a new stake in shares of Quanta Services in the first quarter valued at $25,000. Cambridge Trust Co. purchased a new stake in Quanta Services during the first quarter valued at about $26,000. Valley Wealth Managers Inc. purchased a new stake in Quanta Services during the second quarter valued at about $33,000. Quest Partners LLC purchased a new stake in Quanta Services during the second quarter valued at about $35,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new stake in Quanta Services during the second quarter valued at about $38,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PWR shares. UBS Group boosted their price target on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Robert W. Baird boosted their price objective on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Jefferies Financial Group assumed coverage on Quanta Services in a research note on Wednesday, September 4th. They set a “hold” rating and a $256.00 price objective on the stock. Wolfe Research assumed coverage on Quanta Services in a research note on Thursday, September 19th. They set an “outperform” rating and a $313.00 price objective on the stock. Finally, Citigroup boosted their price objective on Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and a consensus price target of $314.27.

Quanta Services Trading Down 0.0 %

Shares of NYSE PWR opened at $327.17 on Thursday. The stock’s 50 day moving average price is $298.84 and its two-hundred day moving average price is $276.79. Quanta Services, Inc. has a 52-week low of $179.57 and a 52-week high of $335.00. The stock has a market capitalization of $48.29 billion, a P/E ratio of 60.36 and a beta of 1.01. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter in the prior year, the firm posted $2.08 earnings per share. Quanta Services’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, analysts anticipate that Quanta Services, Inc. will post 7.88 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services’s payout ratio is 6.64%.

Insider Buying and Selling

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction that occurred on 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 $2,875,791.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by insiders.

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.