Cavalier Investments LLC Grows Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Cavalier Investments LLC raised its position in shares of Quanta Services, Inc. (NYSE:PWR) by 5.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,300 shares of the construction company’s stock after buying an additional 69 shares during the period. Cavalier Investments LLC’s holdings in Quanta Services were worth $388,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Quanta Services by 0.6% in the first quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock valued at $4,245,452,000 after acquiring an additional 105,355 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Quanta Services by 2.4% in the first quarter. JPMorgan Chase & Co. now owns 6,760,260 shares of the construction company’s stock valued at $1,756,316,000 after acquiring an additional 156,627 shares in the last quarter. Capital World Investors raised its stake in shares of Quanta Services by 10.7% in the first quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock valued at $1,726,042,000 after acquiring an additional 643,011 shares in the last quarter. Electron Capital Partners LLC raised its stake in Quanta Services by 395.1% in the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after buying an additional 2,092,519 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Quanta Services by 17.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock valued at $313,968,000 after buying an additional 186,306 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PWR. Stifel Nicolaus raised their price target on Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. UBS Group raised their price target on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Robert W. Baird raised their price target on Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. assumed coverage on Quanta Services in a research report on Monday, October 7th. They set a “neutral” rating and a $297.00 target price on the stock. Finally, TD Cowen lifted their target price on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $308.07.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 21,286 shares of the company’s stock, valued at $5,490,297.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction dated 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the sale, the insider now owns 21,286 shares in the company, valued at approximately $5,490,297.98. This trade 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 in the last ninety days. Insiders own 1.10% of the company’s stock.

Quanta Services Stock Down 0.5 %

Shares of NYSE PWR opened at $308.17 on Monday. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $317.91. The firm has a fifty day moving average of $286.43 and a 200-day moving average of $271.02. The stock has a market capitalization of $45.11 billion, a PE ratio of 59.72 and a beta of 1.01. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share 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 during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the prior year, the company earned $1.47 EPS. The firm’s revenue was up 10.8% on a year-over-year basis. On average, analysts anticipate that Quanta Services, Inc. will post 7.82 EPS for the current year.

Quanta Services Dividend Announcement

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