Aptus Capital Advisors LLC Boosts Holdings in Quanta Services, Inc. (NYSE:PWR)

Aptus Capital Advisors LLC grew its holdings in Quanta Services, Inc. (NYSE:PWR) by 790.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,658 shares of the construction company’s stock after acquiring an additional 31,655 shares during the period. Aptus Capital Advisors LLC’s holdings in Quanta Services were worth $10,631,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Empowered Funds LLC grew its stake in shares of Quanta Services by 24.2% during the 1st quarter. Empowered Funds LLC now owns 1,835 shares of the construction company’s stock valued at $477,000 after acquiring an additional 357 shares during the period. Concurrent Investment Advisors LLC raised its position in shares of Quanta Services by 12.6% during the 1st quarter. Concurrent Investment Advisors LLC now owns 1,803 shares of the construction company’s stock valued at $468,000 after purchasing an additional 202 shares during the period. Meeder Advisory Services Inc. lifted its stake in shares of Quanta Services by 35.8% during the 1st quarter. Meeder Advisory Services Inc. now owns 1,532 shares of the construction company’s stock valued at $398,000 after buying an additional 404 shares in the last quarter. QRG Capital Management Inc. increased its stake in Quanta Services by 7.0% in the 1st quarter. QRG Capital Management Inc. now owns 8,989 shares of the construction company’s stock worth $2,335,000 after buying an additional 588 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position 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 acquiring an additional 2,767 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of NYSE:PWR traded down $4.33 during trading on Tuesday, hitting $325.36. The stock had a trading volume of 91,641 shares, compared to its average volume of 894,341. The stock has a 50-day simple moving average of $296.02 and a two-hundred day simple moving average of $275.98. The stock has a market capitalization of $48.03 billion, a price-to-earnings ratio of 60.83 and a beta of 1.01. Quanta Services, Inc. has a 12-month low of $173.62 and a 12-month high of $335.00. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.08 earnings per share. On average, equities research analysts expect that Quanta Services, Inc. will post 7.88 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders 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 dividend yield of 0.11%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is presently 6.64%.

Analysts Set New Price Targets

PWR has been the topic of several research analyst reports. B. Riley boosted their price target on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Stifel Nicolaus upped their price objective on Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. UBS Group lifted their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. TD Cowen boosted their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. began coverage on Quanta Services in a research note on Monday, October 7th. They set a “neutral” rating and a $297.00 price target for the company. Four equities 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

Insider Buying and Selling

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the transaction, the insider now owns 10,631 shares in the company, valued at approximately $2,875,791.81. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 593,402 shares in the company, valued at approximately $155,595,938.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 in the company, valued at approximately $2,875,791.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

About Quanta Services

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.