763 Shares in Quanta Services, Inc. (NYSE:PWR) Purchased by Cable Hill Partners LLC

Cable Hill Partners LLC purchased a new position in Quanta Services, Inc. (NYSE:PWR) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 763 shares of the construction company’s stock, valued at approximately $227,000.

A number of other large investors also recently modified their holdings of PWR. EntryPoint Capital LLC bought a new stake in Quanta Services in the 1st quarter valued at $25,000. Cambridge Trust Co. acquired a new position in Quanta Services in the first quarter worth about $26,000. Valley Wealth Managers Inc. bought a new position in Quanta Services during the second quarter worth about $33,000. Quest Partners LLC acquired a new stake in Quanta Services during the second quarter valued at approximately $35,000. Finally, Eastern Bank bought a new stake in shares of Quanta Services in the 3rd quarter valued at approximately $44,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Price Performance

Shares of NYSE PWR opened at $323.87 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The business has a 50-day moving average of $300.29 and a 200-day moving average of $277.12. Quanta Services, Inc. has a fifty-two week low of $180.97 and a fifty-two week high of $335.00. The stock has a market capitalization of $47.81 billion, a price-to-earnings ratio of 59.75 and a beta of 1.01.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.46 by $0.26. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.08 EPS. As a group, sell-side analysts predict that Quanta Services, Inc. will post 7.88 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were paid a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 annualized dividend and a dividend yield of 0.11%. Quanta Services’s payout ratio is 6.64%.

Insider Activity at Quanta Services

In other news, insider Karl W. Studer sold 23,357 shares of the firm’s 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 completion of the sale, the insider now owns 10,631 shares of the company’s stock, valued at $2,875,791.81. This trade represents a 68.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on PWR. Robert W. Baird raised their target price on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Wolfe Research started coverage on shares of Quanta Services in a research note on Thursday, September 19th. They issued an “outperform” rating and a $313.00 target price on the stock. Citigroup increased their target price on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Stifel Nicolaus upped 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. Finally, UBS Group lifted 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, October 23rd. 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.com, Quanta Services currently has an average rating of “Moderate Buy” and a consensus price target of $314.27.

Quanta Services Company 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.