Axecap Investments LLC Takes $255,000 Position in Quanta Services, Inc. (NYSE:PWR)

Axecap Investments LLC bought a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 856 shares of the construction company’s stock, valued at approximately $255,000.

A number of other hedge funds have also recently bought and sold shares of PWR. Sunbelt Securities Inc. boosted its position in Quanta Services by 523.0% during the first quarter. Sunbelt Securities Inc. now owns 1,626 shares of the construction company’s stock worth $422,000 after acquiring an additional 1,365 shares during the last quarter. Brookstone Capital Management boosted its holdings in shares of Quanta Services by 13.4% in the 1st quarter. Brookstone Capital Management now owns 12,672 shares of the construction company’s stock valued at $3,292,000 after purchasing an additional 1,501 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Quanta Services by 11.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 34,881 shares of the construction company’s stock valued at $9,062,000 after purchasing an additional 3,640 shares during the last quarter. 180 Wealth Advisors LLC boosted its holdings in shares of Quanta Services by 15.6% in the 1st quarter. 180 Wealth Advisors LLC now owns 3,089 shares of the construction company’s stock valued at $803,000 after purchasing an additional 416 shares during the last quarter. Finally, Transform Wealth LLC boosted its holdings in shares of Quanta Services by 13.0% in the 1st quarter. Transform Wealth LLC now owns 26,123 shares of the construction company’s stock valued at $6,787,000 after purchasing an additional 3,011 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Performance

Quanta Services stock opened at $306.63 on Thursday. The firm’s fifty day moving average price is $284.75 and its 200 day moving average price is $270.21. The company has a market capitalization of $44.89 billion, a price-to-earnings ratio of 59.42 and a beta of 1.01. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $317.91. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25.

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

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is presently 6.98%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PWR shares. Truist Financial lifted their price target on shares of Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Robert W. Baird raised their target price on shares of Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. UBS Group raised their target price on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research note on Wednesday. Citigroup raised their target price on shares of Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Finally, Jefferies Financial Group initiated coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They issued a “hold” rating and a $256.00 target price on the stock. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $308.07.

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 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 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 filing with the SEC, which is accessible through this hyperlink. In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were 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 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 document filed with the SEC, which is available at this hyperlink. Also, COO James Redgie Probst sold 34,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the transaction, the chief operating officer now directly owns 29,002 shares of the company’s stock, valued at $7,541,390.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 202,357 shares of company stock valued at $53,115,572. Company insiders own 1.10% of the company’s stock.

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.