Carderock Capital Management Inc. Has $9.36 Million Stock Position in Quanta Services, Inc. (NYSE:PWR)

by · The Cerbat Gem

Carderock Capital Management Inc. raised its stake in Quanta Services, Inc. (NYSE:PWR – Free Report) by 4.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,397 shares of the construction company’s stock after acquiring an additional 1,476 shares during the quarter. Quanta Services comprises approximately 2.2% of Carderock Capital Management Inc.’s investment portfolio, making the stock its 16th biggest holding. Carderock Capital Management Inc.’s holdings in Quanta Services were worth $9,361,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PWR. Nomura Holdings Inc. acquired a new stake in shares of Quanta Services in the fourth quarter valued at approximately $631,000. Wellington Management Group LLP increased its stake in shares of Quanta Services by 581.3% in the 4th quarter. Wellington Management Group LLP now owns 117,014 shares of the construction company’s stock valued at $25,252,000 after buying an additional 99,840 shares during the period. Allen Investment Management LLC raised its position in shares of Quanta Services by 1,418.0% during the first quarter. Allen Investment Management LLC now owns 33,396 shares of the construction company’s stock worth $8,676,000 after acquiring an additional 31,196 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Quanta Services by 0.6% during 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 during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Quanta Services by 5.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock valued at $9,366,000 after acquiring an additional 1,981 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Stifel Nicolaus upped their target price on shares of Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. B. Riley increased their price objective on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Truist Financial lifted their target price on shares of Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Wolfe Research began coverage on Quanta Services in a research note on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price target on the stock. Finally, Robert W. Baird lifted their price objective on Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and an average price target of $303.86.

View Our Latest Analysis on PWR

Quanta Services Stock Up 2.2 %

Shares of Quanta Services stock opened at $312.22 on Thursday. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $313.76. 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 company has a market capitalization of $45.71 billion, a P/E ratio of 60.51 and a beta of 1.01. The business has a 50-day moving average of $278.34 and a two-hundred day moving average of $268.04.

Quanta Services (NYSE:PWR – Get Free Report) last posted its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $5.51 billion. During the same period in the prior year, the business 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 predict that Quanta Services, Inc. will post 7.81 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently disclosed 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 was Tuesday, October 1st. This represents a $0.36 annualized dividend and a yield of 0.12%. Quanta Services’s dividend payout ratio is currently 6.98%.

Insider Buying and Selling

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction dated 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 sale, the insider now owns 21,286 shares of the company’s stock, valued at $5,490,297.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction 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 transaction, the insider now owns 10,631 shares in the company, valued at approximately $2,875,791.81. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction on Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the completion of the sale, the insider now owns 21,286 shares in the company, valued at $5,490,297.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 202,357 shares of company stock valued at $53,115,572. Company insiders own 1.10% of the company’s stock.

About Quanta Services

(Free Report)

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.

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