Meridian Management Co. Acquires 61 Shares of Quanta Services, Inc. (NYSE:PWR)

Meridian Management Co. boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 0.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,311 shares of the construction company’s stock after acquiring an additional 61 shares during the quarter. Meridian Management Co.’s holdings in Quanta Services were worth $3,372,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new stake in Quanta Services during the 1st quarter worth approximately $25,000. Cambridge Trust Co. acquired a new position in shares of Quanta Services in the 1st quarter worth approximately $26,000. Valley Wealth Managers Inc. acquired a new position in shares of Quanta Services in the 2nd quarter worth approximately $33,000. Quest Partners LLC acquired a new position in shares of Quanta Services in the 2nd quarter worth approximately $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Quanta Services in the 2nd quarter worth approximately $38,000. 90.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PWR has been the topic of a number of recent analyst reports. Truist Financial boosted their price target on shares of Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Citigroup boosted their price target on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Robert W. Baird boosted their price target on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Northland Securities reiterated an “outperform” rating and set a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. started coverage on shares of Quanta Services in a research report on Monday, October 7th. They set a “neutral” rating and a $297.00 target price on the stock. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and an average target price of $314.27.

Quanta Services Stock Performance

PWR opened at $329.69 on Tuesday. 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’s fifty day moving average price is $296.02 and its two-hundred day moving average price is $275.98. Quanta Services, Inc. has a 1-year low of $173.62 and a 1-year high of $335.00. The company has a market cap of $48.67 billion, a price-to-earnings ratio of 60.83 and a beta of 1.01.

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

Quanta Services Dividend Announcement

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 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%.

Insider Transactions at Quanta Services

In other news, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction 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 sale, the insider now owns 10,631 shares in the company, valued at $2,875,791.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction 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 sale, the insider now owns 10,631 shares in the company, valued at $2,875,791.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the completion of the sale, the chief executive officer now owns 593,402 shares of the company’s stock, valued at approximately $155,595,938.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Quanta Services 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.