Meridian Management Co. Buys 61 Shares of Quanta Services, Inc. (NYSE:PWR)

Meridian Management Co. boosted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 0.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 11,311 shares of the construction company’s stock after purchasing an additional 61 shares during the period. Meridian Management Co.’s holdings in Quanta Services were worth $3,372,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new position in Quanta Services during the first quarter worth about $25,000. Cambridge Trust Co. bought a new position in Quanta Services during 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 bought a new position in Quanta Services during the second quarter worth about $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new position in Quanta Services during the second quarter worth about $38,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Down 0.4 %

Shares of PWR opened at $329.69 on Tuesday. The firm’s 50 day simple moving average is $296.02 and its 200 day simple moving average is $275.98. The company has a market capitalization of $48.67 billion, a P/E ratio of 60.83 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. Quanta Services, Inc. has a 1-year low of $173.62 and a 1-year high of $335.00.

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

Quanta Services Dividend Announcement

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

Insider Buying and Selling at Quanta Services

In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Karl W. Studer sold 23,357 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 10,631 shares in the company, valued at $2,875,791.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

PWR has been the subject of a number of research reports. Wolfe Research initiated coverage on shares of Quanta Services in a research report on Thursday, September 19th. They set an “outperform” rating and a $313.00 target price for the company. B. Riley increased their price target on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. UBS Group increased their price target on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Stifel Nicolaus increased their price target 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, Truist Financial increased their price target 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. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

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.