Dakota Wealth Management Sells 9,819 Shares of Quanta Services, Inc. (NYSE:PWR)

Dakota Wealth Management trimmed its stake in Quanta Services, Inc. (NYSE:PWR) by 31.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,723 shares of the construction company’s stock after selling 9,819 shares during the period. Dakota Wealth Management’s holdings in Quanta Services were worth $6,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Sunbelt Securities Inc. lifted its holdings in shares of Quanta Services by 523.0% in the 1st quarter. Sunbelt Securities Inc. now owns 1,626 shares of the construction company’s stock worth $422,000 after buying an additional 1,365 shares during the period. Brookstone Capital Management grew its holdings in Quanta Services by 13.4% during the 1st quarter. Brookstone Capital Management now owns 12,672 shares of the construction company’s stock worth $3,292,000 after acquiring an additional 1,501 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Quanta Services by 11.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 34,881 shares of the construction company’s stock valued at $9,062,000 after purchasing an additional 3,640 shares during the period. 180 Wealth Advisors LLC raised its holdings in shares of Quanta Services by 15.6% in the 1st quarter. 180 Wealth Advisors LLC now owns 3,089 shares of the construction company’s stock valued at $803,000 after purchasing an additional 416 shares in the last quarter. Finally, New England Research & Management Inc. boosted its stake in shares of Quanta Services by 19.1% during the first quarter. New England Research & Management Inc. now owns 14,631 shares of the construction company’s stock valued at $3,801,000 after purchasing an additional 2,350 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Insider Activity at Quanta Services

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the sale, the insider now directly owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the sale, the insider now owns 10,631 shares in the company, valued at $2,875,791.81. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total value of $34,087,300.00. Following the transaction, the chief executive officer now owns 593,402 shares of the company’s stock, valued at approximately $155,595,938.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 202,357 shares of company stock worth $53,115,572 over the last three months. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Stifel Nicolaus boosted their price objective 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. Jefferies Financial Group initiated coverage on Quanta Services in a research report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price objective on the stock. B. Riley increased their price target on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Northland Securities boosted their price objective 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. Finally, UBS Group raised their target price on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research note on Wednesday. Four equities research 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 company has a consensus rating of “Moderate Buy” and a consensus target price of $308.07.

Quanta Services Stock Performance

Shares of PWR opened at $309.93 on Friday. The stock has a 50-day moving average of $285.59 and a two-hundred day moving average of $270.48. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30. The stock has a market cap of $45.66 billion, a P/E ratio of 58.48 and a beta of 1.01. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $317.91.

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

Quanta Services Dividend Announcement

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

Quanta Services Profile

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.