First Heartland Consultants Inc. Acquires Shares of 1,514 Quanta Services, Inc. (NYSE:PWR)

First Heartland Consultants Inc. acquired a new stake in Quanta Services, Inc. (NYSE:PWR) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,514 shares of the construction company’s stock, valued at approximately $451,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC boosted its position in shares of Quanta Services by 24.2% during the first quarter. Empowered Funds LLC now owns 1,835 shares of the construction company’s stock valued at $477,000 after buying an additional 357 shares during the last quarter. Concurrent Investment Advisors LLC raised its stake in shares of Quanta Services by 12.6% in the first quarter. Concurrent Investment Advisors LLC now owns 1,803 shares of the construction company’s stock valued at $468,000 after buying an additional 202 shares during the period. QRG Capital Management Inc. raised its stake in shares of Quanta Services by 7.0% in the first quarter. QRG Capital Management Inc. now owns 8,989 shares of the construction company’s stock valued at $2,335,000 after buying an additional 588 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Quanta Services by 4.4% in the first quarter. Russell Investments Group Ltd. now owns 66,231 shares of the construction company’s stock valued at $17,205,000 after buying an additional 2,767 shares during the period. Finally, US Bancorp DE raised its stake in shares of Quanta Services by 2.0% in the first quarter. US Bancorp DE now owns 13,603 shares of the construction company’s stock valued at $3,534,000 after buying an additional 270 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the company’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 transaction 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 $2,875,791.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on PWR shares. B. Riley boosted their target price on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Robert W. Baird boosted their target price on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Stifel Nicolaus boosted their price objective on Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. UBS Group boosted their price objective on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Northland Securities restated an “outperform” rating and set a $328.00 target price (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

Quanta Services Trading Down 0.7 %

Shares of PWR stock opened at $327.37 on Wednesday. The stock has a market capitalization of $48.32 billion, a PE ratio of 60.40 and a beta of 1.01. Quanta Services, Inc. has a 1-year low of $173.62 and a 1-year high of $335.00. The business has a 50-day moving average of $297.41 and a 200 day moving average of $276.44. 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 (NYSE:PWR) last issued its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.26. The company had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. Quanta Services’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.08 EPS. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 7.88 earnings per share for the current year.

Quanta Services Announces Dividend

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

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.