AdvisorShares Investments LLC Acquires New Holdings in Quanta Services, Inc. (NYSE:PWR)

AdvisorShares Investments LLC acquired a new stake in Quanta Services, Inc. (NYSE:PWRGet Rating) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,380 shares of the construction company’s stock, valued at approximately $182,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of PWR. Louisiana State Employees Retirement System grew its position in shares of Quanta Services by 1.1% during the first quarter. Louisiana State Employees Retirement System now owns 9,000 shares of the construction company’s stock worth $1,241,000 after buying an additional 100 shares in the last quarter. Advisor Partners LLC boosted its holdings in shares of Quanta Services by 1.8% in the first quarter. Advisor Partners LLC now owns 5,801 shares of the construction company’s stock valued at $763,000 after acquiring an additional 103 shares during the period. Independent Advisor Alliance boosted its holdings in shares of Quanta Services by 3.0% in the first quarter. Independent Advisor Alliance now owns 3,624 shares of the construction company’s stock valued at $477,000 after acquiring an additional 105 shares during the period. G&S Capital LLC raised its stake in shares of Quanta Services by 1.3% during the first quarter. G&S Capital LLC now owns 8,744 shares of the construction company’s stock worth $1,151,000 after purchasing an additional 110 shares during the last quarter. Finally, Jacobi Capital Management LLC raised its stake in shares of Quanta Services by 0.8% during the first quarter. Jacobi Capital Management LLC now owns 14,325 shares of the construction company’s stock worth $1,885,000 after purchasing an additional 110 shares during the last quarter. 87.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. UBS Group upgraded Quanta Services from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $140.00 to $156.00 in a research report on Monday, June 13th. Robert W. Baird raised their price target on Quanta Services from $136.00 to $147.00 and gave the company an “outperform” rating in a research report on Friday. Cowen raised their price target on Quanta Services from $130.00 to $145.00 and gave the company an “outperform” rating in a research report on Thursday, May 26th. Credit Suisse Group set a $157.00 price target on Quanta Services in a research report on Tuesday, July 19th. Finally, Citigroup raised their price target on Quanta Services from $145.00 to $152.00 in a research report on Friday, July 22nd. Two 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.31.

Quanta Services Stock Up 2.6 %

Shares of NYSE:PWR opened at $136.91 on Friday. The stock’s 50-day moving average price is $128.11 and its two-hundred day moving average price is $120.39. The company has a current ratio of 1.56, a quick ratio of 1.48 and a debt-to-equity ratio of 0.75. Quanta Services, Inc. has a 12-month low of $90.09 and a 12-month high of $146.84. The firm has a market cap of $19.68 billion, a price-to-earnings ratio of 44.45 and a beta of 1.10.

Quanta Services (NYSE:PWRGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The construction company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.16. Quanta Services had a return on equity of 15.97% and a net margin of 2.92%. The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same period last year, the company earned $0.93 EPS. The firm’s quarterly revenue was up 41.1% on a year-over-year basis. On average, research analysts forecast that Quanta Services, Inc. will post 5.79 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Friday, July 1st were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date was Thursday, June 30th. Quanta Services’s payout ratio is 9.09%.

Insiders Place Their Bets

In other news, CEO Earl C. Jr. Austin sold 135,000 shares of Quanta Services stock in a transaction dated Friday, June 10th. The stock was sold at an average price of $126.48, for a total value of $17,074,800.00. Following the transaction, the chief executive officer now directly owns 689,030 shares of the company’s stock, valued at approximately $87,148,514.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Earl C. Jr. Austin sold 135,000 shares of Quanta Services stock in a transaction dated Friday, June 10th. The stock was sold at an average price of $126.48, for a total value of $17,074,800.00. Following the transaction, the chief executive officer now directly owns 689,030 shares of the company’s stock, valued at approximately $87,148,514.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Vincent D. Foster sold 14,948 shares of Quanta Services stock in a transaction dated Wednesday, June 22nd. The shares were sold at an average price of $119.01, for a total value of $1,778,961.48. Following the completion of the transaction, the director now directly owns 204,925 shares in the company, valued at $24,388,124.25. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Quanta Services Company Profile

(Get Rating)

Quanta Services, Inc provides specialty contracting services worldwide. The 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; energized 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.

Further Reading

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Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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