Huntington National Bank Acquires 35 Shares of Quanta Services, Inc. (NYSE:PWR)

Huntington National Bank lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 2.9% during the 3rd quarter, Holdings Channel reports. The firm owned 1,240 shares of the construction company’s stock after purchasing an additional 35 shares during the period. Huntington National Bank’s holdings in Quanta Services were worth $370,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PWR. Versor Investments LP acquired a new position in Quanta Services in the 3rd quarter valued at $406,000. Vanguard Group Inc. lifted its stake in Quanta Services by 0.6% during the first quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock worth $4,245,452,000 after purchasing an additional 105,355 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Quanta Services by 5.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock valued at $9,366,000 after purchasing an additional 1,981 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of Quanta Services by 115.0% in the 1st quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock valued at $10,203,000 after purchasing an additional 21,003 shares during the last quarter. Finally, Czech National Bank lifted its position in shares of Quanta Services by 8.9% during the 2nd quarter. Czech National Bank now owns 27,827 shares of the construction company’s stock worth $7,071,000 after buying an additional 2,264 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Quanta Services

In related news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the sale, the insider now directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. This trade represents a 68.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by insiders.

Quanta Services Stock Performance

NYSE PWR opened at $323.33 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The company has a fifty day simple moving average of $301.80 and a 200 day simple moving average of $277.68. Quanta Services, Inc. has a 12-month low of $180.97 and a 12-month high of $335.00. The company has a market cap of $47.73 billion, a P/E ratio of 59.65 and a beta of 1.01.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.08 EPS. Sell-side analysts predict that Quanta Services, Inc. will post 7.88 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently commented on PWR. JPMorgan Chase & Co. assumed coverage on Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 price target for the company. UBS Group upped their target price on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Jefferies Financial Group assumed coverage on shares of Quanta Services in a research report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price target on the stock. Stifel Nicolaus upped their price target on shares of Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Citigroup boosted their price objective on Quanta Services from $302.00 to $348.00 and gave the company 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $314.27.

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.