Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Nicola Wealth Management LTD.

Nicola Wealth Management LTD. increased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 20.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,000 shares of the construction company’s stock after acquiring an additional 1,500 shares during the quarter. Nicola Wealth Management LTD.’s holdings in Quanta Services were worth $2,683,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EntryPoint Capital LLC acquired a new stake in Quanta Services during the 1st quarter worth $25,000. Cambridge Trust Co. acquired a new stake in Quanta Services during the 1st quarter worth $26,000. Valley Wealth Managers Inc. acquired a new stake in Quanta Services during the 2nd quarter worth $33,000. Quest Partners LLC purchased a new position in Quanta Services during the 2nd quarter worth $35,000. Finally, Eastern Bank purchased a new position in Quanta Services during the 3rd quarter worth $44,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Price Performance

Shares of NYSE PWR traded down $1.14 during midday trading on Thursday, hitting $325.74. The company had a trading volume of 103,001 shares, compared to its average volume of 893,305. 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, Inc. has a twelve month low of $180.97 and a twelve month high of $335.00. The business has a 50-day simple moving average of $298.84 and a two-hundred day simple moving average of $276.79. The firm has a market capitalization of $48.08 billion, a price-to-earnings ratio of 60.36 and a beta of 1.01.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. The company had revenue of $6.49 billion during 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 firm’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.08 earnings per share. Equities research analysts anticipate that Quanta Services, Inc. will post 7.88 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were given a dividend of $0.09 per share. 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 payout ratio is currently 6.64%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PWR. TD Cowen raised their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. began coverage on shares of Quanta Services in a research report on Monday, October 7th. They set a “neutral” rating and a $297.00 price objective on the stock. Jefferies Financial Group began coverage on shares of Quanta Services in a research report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price objective on the stock. Stifel Nicolaus raised their price objective on shares of Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Wolfe Research initiated coverage on shares of Quanta Services in a report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 target price on the stock. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $314.27.

Insiders Place Their Bets

In other news, insider Karl W. Studer sold 23,357 shares of the business’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 value of $6,318,302.07. Following the completion of the transaction, the insider now owns 10,631 shares of the company’s stock, valued at $2,875,791.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by company 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.