TrinityPoint Wealth LLC Lowers Stock Position in Quanta Services, Inc. (NYSE:PWR)

TrinityPoint Wealth LLC decreased its position in Quanta Services, Inc. (NYSE:PWR) by 8.6% in the third quarter, Holdings Channel reports. The institutional investor owned 6,901 shares of the construction company’s stock after selling 649 shares during the period. TrinityPoint Wealth LLC’s holdings in Quanta Services were worth $2,058,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Swiss National Bank increased its stake in shares of Quanta Services by 0.3% in the 3rd quarter. Swiss National Bank now owns 434,435 shares of the construction company’s stock valued at $129,527,000 after purchasing an additional 1,100 shares in the last quarter. KPP Advisory Services LLC grew its holdings in Quanta Services by 3.8% in the third quarter. KPP Advisory Services LLC now owns 4,596 shares of the construction company’s stock valued at $1,370,000 after purchasing an additional 167 shares during the period. Empowered Funds LLC increased its position in shares of Quanta Services by 7.4% in the third quarter. Empowered Funds LLC now owns 2,679 shares of the construction company’s stock valued at $799,000 after buying an additional 185 shares in the last quarter. Empirical Finance LLC lifted its position in shares of Quanta Services by 2.1% during the 3rd quarter. Empirical Finance LLC now owns 4,926 shares of the construction company’s stock valued at $1,469,000 after buying an additional 100 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC grew its stake in Quanta Services by 5.4% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 2,148 shares of the construction company’s stock valued at $640,000 after acquiring an additional 110 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insider Buying and Selling at Quanta Services

In related 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 transaction 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 approximately $2,875,791.81. This trade represents a 68.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PWR. Jefferies Financial Group initiated coverage on shares of Quanta Services in a report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price objective on the stock. Northland Securities reaffirmed an “outperform” rating and issued a $328.00 price target (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. 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. B. Riley raised their target price on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. assumed coverage on Quanta Services in a research report on Monday, October 7th. They set a “neutral” rating and a $297.00 price target for the company. Four 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $314.27.

Quanta Services Stock Down 0.2 %

Shares of NYSE PWR opened at $323.33 on Monday. 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 debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The company has a 50 day simple moving average of $301.80 and a 200-day simple moving average of $277.83. Quanta Services, Inc. has a 1 year low of $180.97 and a 1 year high of $335.00.

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

Quanta Services Dividend Announcement

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

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.