Bogart Wealth LLC Grows Position in Quanta Services, Inc. (NYSE:PWR)

Bogart Wealth LLC grew its stake in Quanta Services, Inc. (NYSE:PWR) by 486,600.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,601 shares of the construction company’s stock after buying an additional 14,598 shares during the period. Bogart Wealth LLC’s holdings in Quanta Services were worth $4,353,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PWR. EntryPoint Capital LLC acquired a new stake in Quanta Services during the 1st quarter worth about $25,000. Private Ocean LLC acquired a new stake in shares of Quanta Services during the first quarter worth about $26,000. Salomon & Ludwin LLC purchased a new stake in Quanta Services in the first quarter valued at approximately $26,000. Cambridge Trust Co. acquired a new position in Quanta Services in the 1st quarter worth approximately $26,000. Finally, Valley Wealth Managers Inc. purchased a new position in Quanta Services during the 2nd quarter worth approximately $33,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Price Performance

Shares of NYSE PWR traded up $2.47 during trading on Thursday, hitting $309.10. The company had a trading volume of 166,225 shares, compared to its average volume of 886,215. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $317.91. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45. The stock has a fifty day simple moving average of $284.75 and a two-hundred day simple moving average of $270.21. The firm has a market capitalization of $45.25 billion, a price-to-earnings ratio of 59.42 and a beta of 1.01.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.15. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The company had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the previous year, the firm posted $1.47 EPS. Quanta Services’s revenue was up 10.8% compared to the same quarter last year. On average, research analysts expect that Quanta Services, Inc. will post 7.82 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services’s dividend payout ratio is currently 6.98%.

Insider Buying and Selling at Quanta Services

In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were 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 $155,595,938.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the transaction, the insider now owns 21,286 shares of the company’s stock, valued at approximately $5,490,297.98. 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 accessible through the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total value of $34,087,300.00. Following the completion of the sale, the chief executive officer now directly owns 593,402 shares of the company’s stock, valued at $155,595,938.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 202,357 shares of company stock worth $53,115,572. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

PWR has been the topic of a number of research reports. Wolfe Research started coverage on shares of Quanta Services in a research note on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price objective on the stock. JPMorgan Chase & Co. initiated coverage on Quanta Services in a research note on Monday, October 7th. They set a “neutral” rating and a $297.00 price objective for the company. Northland Securities upped their target price on Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. B. Riley lifted their price target 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, Citigroup upped their price objective on Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $308.07.

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.