Parcion Private Wealth LLC Invests $258,000 in Quanta Services, Inc. (NYSE:PWR)

Parcion Private Wealth LLC bought a new position in shares of Quanta Services, Inc. (NYSE:PWR) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 866 shares of the construction company’s stock, valued at approximately $258,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Allen Investment Management LLC increased its position in Quanta Services by 1,418.0% during the first quarter. Allen Investment Management LLC now owns 33,396 shares of the construction company’s stock worth $8,676,000 after acquiring an additional 31,196 shares during the period. Vanguard Group Inc. lifted its position in shares of Quanta Services by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock worth $4,245,452,000 after purchasing an additional 105,355 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Quanta Services by 5.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock worth $9,366,000 after purchasing an additional 1,981 shares during the period. Cetera Investment Advisers increased its stake in shares of Quanta Services by 115.0% in the 1st quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock valued at $10,203,000 after acquiring an additional 21,003 shares in the last quarter. Finally, Czech National Bank increased its stake in shares of Quanta Services by 8.9% in the 2nd quarter. Czech National Bank now owns 27,827 shares of the construction company’s stock valued at $7,071,000 after acquiring an additional 2,264 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insider Buying and Selling

In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $257.93, for a total value of $3,868,950.00. Following the transaction, the insider now directly owns 21,286 shares in the company, valued at approximately $5,490,297.98. 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 accessible through the SEC website. In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the transaction, the insider now directly owns 10,631 shares in the company, valued at $2,875,791.81. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the transaction, the insider now owns 21,286 shares in the company, 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 three months, insiders have sold 202,357 shares of company stock worth $53,115,572. Insiders own 1.10% of the company’s stock.

Quanta Services Price Performance

NYSE PWR opened at $308.17 on Friday. The company has a market cap of $45.40 billion, a PE ratio of 58.15 and a beta of 1.01. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $317.91. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45. The firm’s 50-day simple moving average is $286.43 and its two-hundred day simple moving average is $270.90.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The firm had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the prior year, the firm posted $1.47 earnings per share. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Research analysts predict that Quanta Services, Inc. will post 7.82 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.12%. The ex-dividend date was Tuesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is 6.79%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Truist Financial boosted their price target on shares of Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. B. Riley upped their target price 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. Northland Securities upped their target price on shares of Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Stifel Nicolaus upped their target price on shares of Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Jefferies Financial Group began coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They issued a “hold” rating and a $256.00 target price for the company. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $308.07.

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.