Allworth Financial LP strengthens its position in Quanta Services, Inc. (NYSE: PWR)
Allworth Financial LP increased its stake in the shares of Quanta Services, Inc. (NYSE:PWR – Get a rating) by 1,656.3% in Q1, according to its most recent Form 13F filing with the SEC. The company held 281 shares of the construction company after purchasing an additional 265 shares during the period. Allworth Financial LP’s holdings in Quanta Services were worth $37,000 when it last filed with the SEC.
Other institutional investors and hedge funds also bought and sold shares of the company. Benjamin Edwards Inc. increased its stake in shares of Quanta Services by 435.0% during the fourth quarter. Benjamin Edwards Inc. now owns 214 shares of the construction company valued at $25,000 after purchasing an additional 174 shares during the period. Riverview Trust Co bought a new position in shares of Quanta Services during the first quarter worth approximately $34,000. First Horizon Advisors Inc. increased its stake in shares of Quanta Services by 113.3% during the fourth quarter. First Horizon Advisors Inc. now owns 320 shares of the construction company valued at $35,000 after purchasing an additional 170 shares during the period. Lloyd Advisory Services LLC. bought a new position in shares of Quanta Services during the fourth quarter worth approximately $42,000. Finally, Gemmer Asset Management LLC bought a new position in shares of Quanta Services during the fourth quarter worth approximately $43,000. 87.16% of the shares are currently held by hedge funds and other institutional investors.
In other news, CEO Earl C. Jr. Austin sold 135,000 shares of the company in a trade on Friday, June 10. The stock was sold at an average price of $126.48, for a total transaction of $17,074,800.00. As a result of the transaction, the CEO now directly owns 689,030 shares of the company, valued at $87,148,514.40. The sale was disclosed in an SEC filing, available at the SEC website. Additionally, director Vincent D. Foster sold 14,948 shares of the company in a trade on Wednesday, June 22. The shares were sold at an average price of $119.01, for a total value of $1,778,961.48. Following the transaction, the administrator now directly owns 204,925 shares of the company, valued at $24,388,124.25. Disclosure of this sale can be found here. Insiders own 1.30% of the shares of the company.
Stock Quanta Services opened at $127.72 on Wednesday. The company has a current ratio of 1.51, a quick ratio of 1.48 and a debt ratio of 0.74. The company’s fifty-day simple moving average is $121.13 and its two-hundred-day simple moving average is $117.45. Quanta Services, Inc. has a 12-month low of $84.40 and a 12-month high of $140.04. The company has a market capitalization of $18.35 billion, a price-earnings ratio of 38.70 and a beta of 1.10.
Quantum services (NYSE:PWR – Get a rating) last reported results on Thursday, May 5. The construction company reported EPS of $1.26 for the quarter, beating the consensus estimate of $1.09 by $0.17. Quanta Services achieved a return on equity of 14.98% and a net margin of 3.38%. The company posted revenue of $3.97 billion for the quarter, versus a consensus estimate of $3.60 billion. In the same period a year earlier, the company posted earnings per share of $0.73. The company’s revenue for the quarter increased by 46.7% compared to the same quarter last year. On average, equity research analysts expect Quanta Services, Inc. to post EPS of 5.8 for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 15. Shareholders of record on Friday, July 1 will receive a dividend of $0.07. This represents an annualized dividend of $0.28 and a yield of 0.22%. The ex-date of this dividend is Thursday, June 30. Quanta Services’ dividend payout ratio (DPR) is 8.48%.
Several stock analysts have recently released reports on the company. Goldman Sachs Group raised its target price on Quanta Services from $127.00 to $143.00 and gave the company a “buy” rating in a Thursday, April 7 research note. StockNews.com began covering Quanta Services in a research note on Thursday, March 31. They issued a “holding” rating on the stock. KeyCorp raised its price target on Quanta Services from $129.00 to $156.00 in a Thursday, April 14 research note. Cowen raised his price target on Quanta Services from $130.00 to $145.00 in a Thursday, May 26 research note. Finally, B. Riley raised his price target on Quanta Services from $129.00 to $138.00 in a Friday, May 6 research note. Two equity research analysts gave the stock a hold rating and ten gave the company a buy rating. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $141.18.
Quanta Services Company Profile (Get a rating)
Quanta Services, Inc provides specialized contract services worldwide. The Electric Power Infrastructure Solutions segment is engaged in the design, procurement, construction, upgrade, repair and maintenance of power transmission and distribution infrastructure. electric power and substation installations; installation, maintenance and live upgrade of power supply infrastructure projects; installation of smart grid technologies on power grids; and the design, installation, maintenance and repair of commercial and industrial wiring.
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