Nations Financial Group Inc. IA ADV Buys 2,184 Shares of Quanta Services, Inc. (NYSE:PWR)

Nations Financial Group Inc. IA ADV lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 39.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,719 shares of the construction company’s stock after acquiring an additional 2,184 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in Quanta Services were worth $2,301,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EntryPoint Capital LLC bought a new position in shares of Quanta Services during the first quarter valued at approximately $25,000. Cambridge Trust Co. bought a new position in shares of Quanta Services during the first quarter valued at approximately $26,000. Valley Wealth Managers Inc. bought a new position in shares of Quanta Services during the second quarter valued at approximately $33,000. Quest Partners LLC bought a new position in shares of Quanta Services during the second quarter valued at approximately $35,000. Finally, Eastern Bank bought a new position in shares of Quanta Services during the third quarter valued at approximately $44,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

NYSE PWR opened at $329.69 on Tuesday. Quanta Services, Inc. has a one year low of $173.62 and a one year high of $335.00. The stock has a 50-day moving average of $296.02 and a 200 day moving average of $275.98. The company has a market capitalization of $48.67 billion, a price-to-earnings ratio of 60.83 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23.

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

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.11%. Quanta Services’s payout ratio is currently 6.64%.

Insider Activity

In other news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the transaction, the insider now directly owns 10,631 shares of the company’s stock, valued at $2,875,791.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Karl W. Studer sold 23,357 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the transaction, the insider now directly owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 593,402 shares in the company, valued at approximately $155,595,938.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. 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 objective for the company. Truist Financial raised their price objective on Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Jefferies Financial Group assumed coverage on Quanta Services in a research report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price objective for the company. UBS Group raised their price objective on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Stifel Nicolaus raised their price objective on Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Four research 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

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.