First Business Financial Services Inc. Acquires 403 Shares of Quanta Services, Inc. (NYSE:PWR)

First Business Financial Services Inc. boosted its holdings in Quanta Services, Inc. (NYSE:PWR) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,746 shares of the construction company’s stock after purchasing an additional 403 shares during the period. Quanta Services makes up 0.4% of First Business Financial Services Inc.’s portfolio, making the stock its 23rd largest position. First Business Financial Services Inc.’s holdings in Quanta Services were worth $3,502,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Tower Wealth Partners Inc. raised its stake in Quanta Services by 3.1% in the third quarter. Tower Wealth Partners Inc. now owns 1,122 shares of the construction company’s stock worth $335,000 after buying an additional 34 shares in the last quarter. Huntington National Bank raised its holdings in Quanta Services by 2.9% in the third quarter. Huntington National Bank now owns 1,240 shares of the construction company’s stock worth $370,000 after purchasing an additional 35 shares in the last quarter. Terra Nova Asset Management LLC lifted its position in Quanta Services by 0.3% during the third quarter. Terra Nova Asset Management LLC now owns 12,779 shares of the construction company’s stock valued at $3,810,000 after buying an additional 38 shares during the period. Greenleaf Trust grew its position in shares of Quanta Services by 1.2% in the 3rd quarter. Greenleaf Trust now owns 3,154 shares of the construction company’s stock worth $940,000 after buying an additional 38 shares during the period. Finally, EP Wealth Advisors LLC grew its holdings in Quanta Services by 0.6% in the second quarter. EP Wealth Advisors LLC now owns 6,994 shares of the construction company’s stock worth $1,777,000 after purchasing an additional 39 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other 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 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 approximately $2,875,791.81. This trade represents a 68.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PWR. TD Cowen raised their price objective 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. B. Riley boosted their price target on Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Robert W. Baird upped their target price on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. initiated coverage on shares of Quanta Services in a report on Monday, October 7th. They issued a “neutral” rating and a $297.00 target price on the stock. Finally, Stifel Nicolaus raised their price target on Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

Quanta Services Stock Performance

Shares of NYSE:PWR opened at $323.87 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. Quanta Services, Inc. has a 1 year low of $180.97 and a 1 year high of $335.00. The firm has a market capitalization of $47.81 billion, a PE ratio of 59.75 and a beta of 1.01. The business’s 50 day moving average price is $300.29 and its 200-day moving average price is $277.12.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating 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 company had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter in the prior year, the company earned $2.08 EPS. Quanta Services’s revenue was up 15.5% compared to the same quarter last year. As a group, equities research analysts expect that Quanta Services, Inc. will post 7.88 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently declared 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 dividend payout ratio (DPR) is 6.64%.

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.