Western Financial Corp CA Invests $1.15 Million in Quanta Services, Inc. (NYSE:PWR)

Western Financial Corp CA purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,845 shares of the construction company’s stock, valued at approximately $1,146,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PWR. Wellington Management Group LLP raised its stake in Quanta Services by 581.3% during the fourth quarter. Wellington Management Group LLP now owns 117,014 shares of the construction company’s stock valued at $25,252,000 after purchasing an additional 99,840 shares in the last quarter. CHICAGO TRUST Co NA purchased a new position in Quanta Services during the first quarter worth $211,000. AdvisorNet Financial Inc raised its stake in shares of Quanta Services by 13.5% in the first quarter. AdvisorNet Financial Inc now owns 2,269 shares of the construction company’s stock valued at $589,000 after acquiring an additional 269 shares during the period. Riverview Trust Co bought a new stake in shares of Quanta Services in the 1st quarter worth about $66,000. Finally, Mechanics Bank Trust Department boosted its stake in shares of Quanta Services by 63.2% during the 1st quarter. Mechanics Bank Trust Department now owns 4,118 shares of the construction company’s stock worth $1,070,000 after purchasing an additional 1,594 shares during the period. 90.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PWR shares. Jefferies Financial Group initiated coverage on Quanta Services in a research note on Wednesday, September 4th. They set a “hold” rating and a $256.00 price target for the company. Citigroup boosted their price objective on shares of Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a research report on Friday, October 4th. B. Riley raised their price objective on Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. TD Cowen upped their target price on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. assumed coverage on Quanta Services in a report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and an average target price of $303.86.

Insider Activity at Quanta Services

In other news, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the sale, the chief executive officer now owns 593,402 shares in the company, valued at approximately $155,595,938.42. The trade was 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 this link. In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’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 transaction 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business’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 completion of the sale, the insider now owns 21,286 shares of the company’s stock, valued at approximately $5,490,297.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 202,357 shares of company stock valued at $53,115,572 over the last ninety days. Insiders own 1.10% of the company’s stock.

Quanta Services Stock Up 1.0 %

NYSE:PWR traded up $3.16 during mid-day trading on Monday, hitting $317.43. The stock had a trading volume of 286,648 shares, compared to its average volume of 890,285. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $317.68. The stock has a 50-day simple moving average of $281.72 and a two-hundred day simple moving average of $269.18. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $46.47 billion, a PE ratio of 60.91 and a beta of 1.01.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.75 by $0.15. The firm had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. Quanta Services’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.47 earnings per share. On average, equities research analysts anticipate that Quanta Services, Inc. will post 7.83 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date was Tuesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is 6.98%.

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.