Sheaff Brock Investment Advisors LLC Acquires Shares of 2,012 Quanta Services, Inc. (NYSE:PWR)

Sheaff Brock Investment Advisors LLC acquired a new stake in Quanta Services, Inc. (NYSE:PWRGet Rating) during the 1st quarter, Holdings Channel reports. The institutional investor acquired 2,012 shares of the construction company’s stock, valued at approximately $265,000.

Other institutional investors also recently bought and sold shares of the company. Benjamin Edwards Inc. increased its stake in Quanta Services by 435.0% in the 4th quarter. Benjamin Edwards Inc. now owns 214 shares of the construction company’s stock valued at $25,000 after buying an additional 174 shares during the period. Riverview Trust Co acquired a new position in shares of Quanta Services during the 1st quarter worth $34,000. First Horizon Advisors Inc. grew its stake in shares of Quanta Services by 113.3% during the 4th quarter. First Horizon Advisors Inc. now owns 320 shares of the construction company’s stock worth $35,000 after purchasing an additional 170 shares during the period. Allworth Financial LP grew its stake in shares of Quanta Services by 1,656.3% during the 1st quarter. Allworth Financial LP now owns 281 shares of the construction company’s stock worth $37,000 after purchasing an additional 265 shares during the period. Finally, Cyrus J. Lawrence LLC acquired a new position in shares of Quanta Services during the 1st quarter worth $38,000. 87.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PWR has been the topic of a number of recent analyst reports. KeyCorp upped their price target on shares of Quanta Services from $129.00 to $156.00 in a research note on Thursday, April 14th. Citigroup upped their price target on shares of Quanta Services from $145.00 to $152.00 in a research note on Friday, July 22nd. Cowen upped their price target on shares of Quanta Services from $130.00 to $145.00 in a research note on Thursday, May 26th. Robert W. Baird increased their price objective on shares of Quanta Services from $136.00 to $147.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Argus began coverage on shares of Quanta Services in a research note on Friday, July 15th. They issued a “buy” rating and a $150.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and an average price target of $144.31.

Insider Transactions at Quanta Services

In other news, CEO Earl C. Jr. Austin sold 135,000 shares of the stock in a transaction dated Friday, June 10th. The shares were sold at an average price of $126.48, for a total transaction of $17,074,800.00. Following the transaction, the chief executive officer now directly owns 689,030 shares in the company, valued at approximately $87,148,514.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Vincent D. Foster sold 14,948 shares of the stock in a transaction that occurred on Wednesday, June 22nd. The shares were sold at an average price of $119.01, for a total transaction of $1,778,961.48. Following the completion of the sale, the director now owns 204,925 shares of the company’s stock, valued at approximately $24,388,124.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Earl C. Jr. Austin sold 135,000 shares of the stock in a transaction that occurred on Friday, June 10th. The stock was sold at an average price of $126.48, for a total transaction of $17,074,800.00. Following the sale, the chief executive officer now directly owns 689,030 shares of the company’s stock, valued at approximately $87,148,514.40. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Quanta Services Price Performance

NYSE:PWR opened at $136.91 on Friday. The firm has a market cap of $19.68 billion, a price-to-earnings ratio of 41.49 and a beta of 1.10. The company has a current ratio of 1.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.74. The company’s 50-day moving average is $128.11 and its two-hundred day moving average is $120.39. Quanta Services, Inc. has a 12-month low of $90.09 and a 12-month high of $146.84.

Quanta Services (NYSE:PWRGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The construction company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.16. The business had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.03 billion. Quanta Services had a net margin of 3.38% and a return on equity of 14.98%. The company’s revenue was up 41.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.93 EPS. Research analysts expect that Quanta Services, Inc. will post 5.79 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Friday, July 1st were issued a dividend of $0.07 per share. The ex-dividend date was Thursday, June 30th. This represents a $0.28 annualized dividend and a dividend yield of 0.20%. Quanta Services’s payout ratio is currently 8.48%.

About Quanta Services

(Get Rating)

Quanta Services, Inc provides specialty contracting services worldwide. The 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; energized 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.

Further Reading

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Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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