Great Lakes Retirement Inc. Has $4.07 Million Position in Quanta Services, Inc. (NYSE:PWR)

Great Lakes Retirement Inc. increased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 3.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,657 shares of the construction company’s stock after acquiring an additional 394 shares during the period. Great Lakes Retirement Inc.’s holdings in Quanta Services were worth $4,072,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in PWR. Sunbelt Securities Inc. lifted its holdings in shares of Quanta Services by 523.0% in the first quarter. Sunbelt Securities Inc. now owns 1,626 shares of the construction company’s stock worth $422,000 after acquiring an additional 1,365 shares during the last quarter. Brookstone Capital Management boosted its position in Quanta Services by 13.4% in the first quarter. Brookstone Capital Management now owns 12,672 shares of the construction company’s stock valued at $3,292,000 after buying an additional 1,501 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Quanta Services by 11.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 34,881 shares of the construction company’s stock worth $9,062,000 after buying an additional 3,640 shares during the last quarter. 180 Wealth Advisors LLC increased its holdings in shares of Quanta Services by 15.6% during the first quarter. 180 Wealth Advisors LLC now owns 3,089 shares of the construction company’s stock worth $803,000 after buying an additional 416 shares in the last quarter. Finally, Transform Wealth LLC lifted its stake in shares of Quanta Services by 13.0% in the 1st quarter. Transform Wealth LLC now owns 26,123 shares of the construction company’s stock valued at $6,787,000 after acquiring an additional 3,011 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PWR has been the topic of a number of research reports. Truist Financial boosted their price objective on Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Citigroup boosted their price target on Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Robert W. Baird raised their price objective on shares of Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Stifel Nicolaus boosted their target price on shares of Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, UBS Group raised their price target 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 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $308.07.

Quanta Services Stock Down 2.0 %

Shares of NYSE:PWR opened at $306.63 on Thursday. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $317.91. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. The business’s 50-day moving average is $284.75 and its 200-day moving average is $270.21. The company has a market capitalization of $44.89 billion, a price-to-earnings ratio of 59.42 and a beta of 1.01.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (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%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.47 earnings per share. Equities research analysts predict that Quanta Services, Inc. will post 7.82 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.12%. The ex-dividend date was Tuesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is currently 6.98%.

Insider Activity

In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total value of $34,087,300.00. Following the completion of the sale, the chief executive officer now directly owns 593,402 shares in the company, valued at $155,595,938.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 21,286 shares of the company’s stock, valued at approximately $5,490,297.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the business’s 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 directly owns 593,402 shares of the company’s stock, valued at approximately $155,595,938.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 202,357 shares of company stock worth $53,115,572. Company insiders own 1.10% of the company’s stock.

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.