Laffer Tengler Investments Inc. boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 49.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,786 shares of the construction company's stock after purchasing an additional 3,874 shares during the quarter. Laffer Tengler Investments Inc.'s holdings in Quanta Services were worth $3,514,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in PWR. Versor Investments LP bought a new position in Quanta Services during the 3rd quarter valued at $406,000. Catalytic Wealth RIA LLC bought a new position in shares of Quanta Services during the third quarter worth about $219,000. Wolverine Asset Management LLC acquired a new position in Quanta Services in the third quarter worth about $1,193,000. Peregrine Asset Advisers Inc. increased its holdings in Quanta Services by 0.6% in the third quarter. Peregrine Asset Advisers Inc. now owns 15,928 shares of the construction company's stock valued at $4,749,000 after buying an additional 89 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in Quanta Services during the third quarter valued at approximately $96,000. 90.49% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the 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 transaction, the chief executive officer now owns 593,402 shares in the company, valued at $155,595,938.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Karl W. Studer sold 23,357 shares of the 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 completion of the sale, the insider now owns 10,631 shares in the company, valued at $2,875,791.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction on Wednesday, August 14th. The shares were 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 owns 593,402 shares in the company, valued at $155,595,938.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.
A number of equities research analysts have recently weighed in on PWR shares. Wolfe Research started coverage on Quanta Services in a report on Thursday, September 19th. They issued an "outperform" rating and a $313.00 price target for the company. B. Riley increased their target price on shares of Quanta Services from $286.00 to $303.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. TD Cowen lifted their price target on shares of Quanta Services from $280.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. assumed coverage on shares of Quanta Services in a research note on Monday, October 7th. They set a "neutral" rating and a $297.00 price objective on the stock. Finally, Truist Financial lifted their target price on Quanta Services from $319.00 to $358.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $314.27.
Get Our Latest Stock Analysis on PWR
NYSE:PWR traded up $2.64 during midday trading on Monday, hitting $333.62. 101,332 shares of the stock were exchanged, compared to its average volume of 893,647. The company has a market capitalization of $49.25 billion, a price-to-earnings ratio of 61.07 and a beta of 1.01. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a one year low of $173.62 and a one year high of $335.00. The business has a 50-day moving average price of $294.93 and a two-hundred day moving average price of $275.45.
Quanta Services (NYSE:PWR - Get Free Report) last issued 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 analysts' expectations of $6.56 billion. During the same period in the previous year, the business earned $2.08 earnings per share. Quanta Services's revenue for the quarter was up 15.5% compared to the same quarter last year. Sell-side analysts predict that Quanta Services, Inc. will post 7.88 EPS for the current year.
The business also recently disclosed 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. The ex-dividend date was Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.11%. Quanta Services's dividend payout ratio (DPR) is presently 6.64%.
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.
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