Princeton Capital Management LLC Buys 320 Shares of Quanta Services, Inc. (NYSE:PWR)

Princeton Capital Management LLC increased its stake in Quanta Services, Inc. (NYSE:PWR) by 1.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,491 shares of the construction company’s stock after buying an additional 320 shares during the quarter. Quanta Services comprises 2.3% of Princeton Capital Management LLC’s portfolio, making the stock its 9th largest position. Princeton Capital Management LLC’s holdings in Quanta Services were worth $7,302,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Prospera Financial Services Inc purchased a new position in Quanta Services in the 3rd quarter valued at about $900,000. Pathstone Holdings LLC boosted its holdings in Quanta Services by 4.5% in the third quarter. Pathstone Holdings LLC now owns 32,552 shares of the construction company’s stock valued at $9,705,000 after purchasing an additional 1,416 shares during the last quarter. Meeder Advisory Services Inc. grew its stake in Quanta Services by 27.6% during the 3rd quarter. Meeder Advisory Services Inc. now owns 3,085 shares of the construction company’s stock valued at $920,000 after purchasing an additional 667 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of Quanta Services in the 3rd quarter valued at approximately $41,000. Finally, MAI Capital Management boosted its stake in shares of Quanta Services by 34.0% during the 3rd quarter. MAI Capital Management now owns 7,160 shares of the construction company’s stock valued at $2,135,000 after buying an additional 1,816 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PWR has been the subject of a number of research analyst reports. Robert W. Baird lifted their price target on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Northland Securities restated an “outperform” rating and issued a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. UBS Group lifted their price target on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Wolfe Research initiated coverage on Quanta Services in a research note on Thursday, September 19th. They set an “outperform” rating and a $313.00 price objective on the stock. Finally, Stifel Nicolaus lifted their target price on Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $314.27.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $328.41 on Tuesday. The firm’s 50 day moving average is $303.37 and its two-hundred day moving average is $278.35. The firm has a market capitalization of $48.48 billion, a P/E ratio of 60.59 and a beta of 1.01. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 52 week low of $180.97 and a 52 week high of $335.00.

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

Quanta Services Announces Dividend

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

Insider Buying and Selling at Quanta Services

In other news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 10,631 shares in the company, valued at $2,875,791.81. This trade represents a 68.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.10% of the stock is owned by corporate insiders.

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.