Ethic Inc. increased its stake in Quanta Services, Inc. (NYSE:PWR – Get Rating) by 40.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,694 shares of the construction company’s stock after purchasing an additional 4,512 shares during the period. Ethic Inc.’s holdings in Quanta Services were worth $2,066,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of PWR. Riverview Trust Co acquired a new stake in Quanta Services during the 1st quarter worth $34,000. First Horizon Advisors Inc. grew its holdings in Quanta Services by 113.3% during the 4th quarter. First Horizon Advisors Inc. now owns 320 shares of the construction company’s stock worth $35,000 after acquiring an additional 170 shares during the period. Allworth Financial LP grew its holdings in Quanta Services by 1,656.3% during the 1st quarter. Allworth Financial LP now owns 281 shares of the construction company’s stock worth $37,000 after acquiring an additional 265 shares during the period. Cyrus J. Lawrence LLC acquired a new stake in Quanta Services during the 1st quarter worth $38,000. Finally, Trustcore Financial Services LLC grew its holdings in Quanta Services by 32.8% during the 1st quarter. Trustcore Financial Services LLC now owns 364 shares of the construction company’s stock worth $48,000 after acquiring an additional 90 shares during the period. Institutional investors own 91.79% of the company’s stock.
Quanta Services Trading Up 0.1 %
Shares of NYSE:PWR opened at $146.76 on Monday. The company’s 50-day moving average price is $137.37 and its two-hundred day moving average price is $127.86. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.56 and a quick ratio of 1.53. Quanta Services, Inc. has a one year low of $93.91 and a one year high of $149.33. The stock has a market capitalization of $20.99 billion, a PE ratio of 47.65 and a beta of 1.08.
Quanta Services Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Monday, October 3rd will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, September 30th. This represents a $0.28 annualized dividend and a yield of 0.19%. Quanta Services’s dividend payout ratio (DPR) is presently 9.09%.
Analyst Upgrades and Downgrades
A number of research firms have commented on PWR. DA Davidson lifted their target price on shares of Quanta Services to $125.00 in a report on Tuesday, August 9th. Robert W. Baird boosted their price target on shares of Quanta Services from $136.00 to $147.00 and gave the company an “outperform” rating in a report on Friday, August 5th. Credit Suisse Group boosted their price target on shares of Quanta Services to $168.00 in a report on Tuesday, August 9th. Cowen boosted their price target on shares of Quanta Services from $145.00 to $155.00 in a report on Thursday, August 11th. Finally, Cowen boosted their price target on shares of Quanta Services from $145.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 11th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $150.58.
Insiders Place Their Bets
In other Quanta Services news, Director Vincent D. Foster sold 14,948 shares of the business’s stock in a transaction dated Wednesday, June 22nd. The shares were sold at an average price of $119.01, for a total transaction of $1,778,961.48. Following the sale, the director now directly owns 204,925 shares of the company’s stock, valued at approximately $24,388,124.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.30% of the company’s stock.
Quanta Services Profile
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.
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