KPP Advisory Services LLC Grows Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

KPP Advisory Services LLC raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 3.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,596 shares of the construction company’s stock after buying an additional 167 shares during the period. KPP Advisory Services LLC’s holdings in Quanta Services were worth $1,370,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PWR. Versor Investments LP bought a new position in shares of Quanta Services in the third quarter worth approximately $406,000. Vanguard Group Inc. boosted its position in shares of 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 acquiring an additional 105,355 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Quanta Services by 5.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock worth $9,366,000 after acquiring an additional 1,981 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of Quanta Services by 115.0% during the first quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock worth $10,203,000 after acquiring an additional 21,003 shares during the last quarter. Finally, Czech National Bank boosted its position in shares of Quanta Services by 8.9% during the second quarter. Czech National Bank now owns 27,827 shares of the construction company’s stock worth $7,071,000 after acquiring an additional 2,264 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Quanta Services Stock Down 0.2 %

Shares of NYSE:PWR traded down $0.54 during trading on Friday, reaching $323.33. The stock had a trading volume of 901,991 shares, compared to its average volume of 896,390. Quanta Services, Inc. has a one year low of $180.97 and a one year high of $335.00. The company has a market capitalization of $47.73 billion, a P/E ratio of 59.65 and a beta of 1.01. 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 firm’s 50-day simple moving average is $301.80 and its 200 day simple moving average is $277.54.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The company’s revenue was up 15.5% compared to the same quarter last year. During the same period last year, the business earned $2.08 EPS. As a group, research analysts expect that Quanta Services, Inc. will post 7.88 EPS for the current fiscal year.

Quanta Services Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on PWR. B. Riley upped their target price 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. TD Cowen upped their price target on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. 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 note on Thursday, October 10th. Truist Financial upped their price target 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. Finally, Jefferies Financial Group initiated coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They set a “hold” rating and a $256.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

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.