Forte Capital LLC ADV Purchases 759 Shares of Quanta Services, Inc. (NYSE:PWR)

Forte Capital LLC ADV grew its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 15.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 5,620 shares of the construction company’s stock after purchasing an additional 759 shares during the period. Forte Capital LLC ADV’s holdings in Quanta Services were worth $1,676,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. EntryPoint Capital LLC bought a new stake in Quanta Services during the first quarter worth $25,000. Cambridge Trust Co. bought a new stake in shares of Quanta Services during the first quarter valued at about $26,000. Valley Wealth Managers Inc. purchased a new stake in Quanta Services in the 2nd quarter worth approximately $33,000. Quest Partners LLC bought a new stake in Quanta Services during the second quarter valued at $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Quanta Services during the 2nd quarter valued at about $38,000. Institutional investors own 90.49% of the company’s stock.

Insider Buying and Selling at Quanta Services

In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $257.93, for a total value of $3,868,950.00. Following the sale, the insider now directly owns 21,286 shares of the company’s stock, valued at $5,490,297.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction 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 sale, the chief executive officer now owns 593,402 shares of the company’s stock, valued at approximately $155,595,938.42. This trade represents 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, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $257.93, for a total value of $3,868,950.00. Following the completion of the sale, the insider now owns 21,286 shares of the company’s stock, valued at $5,490,297.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 202,357 shares of company stock valued at $53,115,572. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PWR shares. Wolfe Research assumed coverage on shares of Quanta Services in a report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price objective for the company. Robert W. Baird increased their price objective on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Citigroup boosted their target price on Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Stifel Nicolaus increased their price target on shares of Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, TD Cowen boosted their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

Quanta Services Stock Performance

Shares of PWR opened at $310.82 on Thursday. Quanta Services, Inc. has a one year low of $163.93 and a one year high of $317.91. The firm has a market capitalization of $45.88 billion, a PE ratio of 57.35 and a beta of 1.01. The company has a 50-day simple moving average of $292.81 and a two-hundred day simple moving average of $274.22. 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 quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.46 by $0.26. The company had revenue of $6.49 billion for 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%. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.08 earnings per share. On average, analysts anticipate that Quanta Services, Inc. will post 7.83 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services’s payout ratio is currently 6.64%.

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.