Princeton Global Asset Management LLC Purchases 726 Shares of Quanta Services, Inc. (NYSE:PWR)

Princeton Global Asset Management LLC raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 2.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,361 shares of the construction company’s stock after purchasing an additional 726 shares during the quarter. Quanta Services makes up approximately 1.9% of Princeton Global Asset Management LLC’s portfolio, making the stock its 13th largest holding. Princeton Global Asset Management LLC’s holdings in Quanta Services were worth $9,648,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PWR. EntryPoint Capital LLC purchased a new stake in shares of Quanta Services during the 1st quarter valued at approximately $25,000. Salomon & Ludwin LLC purchased a new stake in shares of Quanta Services during the first quarter worth $26,000. Cambridge Trust Co. bought a new position in shares of Quanta Services in the first quarter worth $26,000. Valley Wealth Managers Inc. purchased a new position in shares of Quanta Services in the second quarter valued at $33,000. Finally, Quest Partners LLC purchased a new stake in Quanta Services during the 2nd quarter worth about $35,000. Institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on PWR shares. B. Riley lifted their target price on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Citigroup upped their target price on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Jefferies Financial Group started coverage on shares of Quanta Services in a research report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price target for the company. Stifel Nicolaus increased their price objective on Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Robert W. Baird boosted their target price on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $314.27.

Insider Transactions at Quanta Services

In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 21,286 shares in the company, valued at $5,490,297.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, COO James Redgie Probst sold 34,000 shares of the 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 completion of the sale, the chief operating officer now directly owns 29,002 shares in the company, valued at approximately $7,541,390.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $257.93, for a total value of $3,868,950.00. Following the transaction, the insider now owns 21,286 shares in the company, valued at approximately $5,490,297.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 202,357 shares of company stock worth $53,115,572. Company insiders own 1.10% of the company’s stock.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $303.50 on Friday. The stock’s 50-day moving average is $290.40 and its 200 day moving average is $272.68. The stock has a market cap of $44.71 billion, a price-to-earnings ratio of 56.00 and a beta of 1.01. Quanta Services, Inc. has a 1-year low of $163.93 and a 1-year high of $317.91. The company has a current ratio of 1.23, a quick ratio of 1.25 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results 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 net margin of 3.54% and a return on equity of 16.71%. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same period last year, the firm posted $2.08 earnings per share. The business’s revenue was up 15.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 7.82 EPS for the current fiscal 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 paid a dividend of $0.09 per share. The ex-dividend date was Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio (DPR) is currently 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.