2,660 Shares in Quanta Services, Inc. (NYSE:PWR) Acquired by Meridian Financial Partners LLC

Meridian Financial Partners LLC purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 2,660 shares of the construction company’s stock, valued at approximately $793,000.

A number of other institutional investors also recently modified their holdings of the company. EntryPoint Capital LLC acquired a new position in Quanta Services in the 1st quarter valued at $25,000. Private Ocean LLC acquired a new stake in shares of Quanta Services in the first quarter valued at about $26,000. Salomon & Ludwin LLC bought a new position in shares of Quanta Services in the first quarter worth about $26,000. Cambridge Trust Co. acquired a new position in shares of Quanta Services during the 1st quarter worth about $26,000. Finally, Valley Wealth Managers Inc. bought a new stake in Quanta Services during the 2nd quarter valued at approximately $33,000. Institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

PWR has been the subject of a number of research analyst reports. Northland Securities upped their price target on Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Truist Financial upped their target price on shares of Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. B. Riley raised their price target on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. 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 target price for the company. Finally, Robert W. Baird boosted their price target on Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $303.86.

Insider Activity

In related news, COO James Redgie Probst sold 34,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the transaction, the chief operating officer now owns 29,002 shares in the company, valued at $7,541,390.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Quanta Services news, COO James Redgie Probst sold 34,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $260.03, for a total value of $8,841,020.00. Following the completion of the transaction, the chief operating officer now directly owns 29,002 shares of the company’s stock, valued at approximately $7,541,390.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the sale, the chief executive officer now directly owns 593,402 shares in the company, valued at $155,595,938.42. 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 ninety days, insiders sold 202,357 shares of company stock worth $53,115,572. 1.10% of the stock is owned by corporate insiders.

Quanta Services Trading Up 0.4 %

Shares of Quanta Services stock opened at $314.27 on Friday. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $316.28. The stock has a market capitalization of $46.30 billion, a P/E ratio of 59.30 and a beta of 1.01. The company has a 50-day simple moving average of $281.72 and a 200 day simple moving average of $269.05. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.15. The company had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The company’s revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the business posted $1.47 earnings per share. Research analysts expect that Quanta Services, Inc. will post 7.83 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.11%. The ex-dividend date was Tuesday, October 1st. Quanta Services’s payout ratio is presently 6.79%.

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.