Tower Wealth Partners Inc. Buys 48 Shares of Quanta Services, Inc. (NYSE:PWR)

Tower Wealth Partners Inc. grew its stake in Quanta Services, Inc. (NYSE:PWR) by 4.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,088 shares of the construction company’s stock after purchasing an additional 48 shares during the period. Tower Wealth Partners Inc.’s holdings in Quanta Services were worth $276,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PWR. Westside Investment Management Inc. grew its holdings in Quanta Services by 20.5% during the 2nd quarter. Westside Investment Management Inc. now owns 241 shares of the construction company’s stock worth $61,000 after acquiring an additional 41 shares during the last quarter. Ameritas Advisory Services LLC boosted its stake in Quanta Services by 5.0% in the 2nd quarter. Ameritas Advisory Services LLC now owns 876 shares of the construction company’s stock worth $223,000 after purchasing an additional 42 shares during the period. Aspen Investment Management Inc grew its holdings in shares of Quanta Services by 3.7% during the second quarter. Aspen Investment Management Inc now owns 1,254 shares of the construction company’s stock worth $319,000 after buying an additional 45 shares in the last quarter. Terra Nova Asset Management LLC raised its holdings in shares of Quanta Services by 0.4% in the second quarter. Terra Nova Asset Management LLC now owns 12,741 shares of the construction company’s stock valued at $3,237,000 after purchasing an additional 46 shares during the last quarter. Finally, Wedmont Private Capital increased its stake in Quanta Services by 1.0% in the 1st quarter. Wedmont Private Capital now owns 4,674 shares of the construction company’s stock valued at $1,198,000 after buying an additional 47 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Quanta Services

In other news, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total value 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. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was 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 $5,490,297.98. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Karl W. Studer sold 23,357 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider now owns 10,631 shares of the company’s stock, valued at $2,875,791.81. The disclosure for this sale can be found here. In the last 90 days, insiders sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PWR shares. Argus upped their price objective on Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. B. Riley increased their target price on Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Truist Financial reissued a “buy” rating and issued a $319.00 price objective (up previously from $305.00) on shares of Quanta Services in a report on Monday, August 5th. Northland Securities increased their price target on Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Jefferies Financial Group began coverage on Quanta Services in a report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price objective for the company. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and an average price target of $284.50.

Quanta Services Trading Up 0.8 %

Shares of NYSE PWR opened at $271.59 on Tuesday. The firm has a 50 day moving average price of $260.55 and a two-hundred day moving average price of $260.58. The stock has a market cap of $40.01 billion, a P/E ratio of 52.63 and a beta of 1.01. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $286.87. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30.

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

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend is Tuesday, October 1st. Quanta Services’s payout ratio is presently 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.