Foundations Investment Advisors LLC Grows Stock Holdings in Quanta Services, Inc. $PWR

Foundations Investment Advisors LLC lifted its stake in Quanta Services, Inc. (NYSE:PWR) by 108.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,499 shares of the construction company’s stock after purchasing an additional 1,298 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Quanta Services were worth $1,036,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC bought a new stake in Quanta Services in the fourth quarter worth $298,000. Woodline Partners LP boosted its stake in Quanta Services by 40.7% in the 1st quarter. Woodline Partners LP now owns 12,471 shares of the construction company’s stock worth $3,170,000 after purchasing an additional 3,606 shares in the last quarter. Capital Investment Advisors LLC purchased a new stake in Quanta Services during the 2nd quarter valued at about $217,000. SOA Wealth Advisors LLC. increased its stake in Quanta Services by 159.3% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after purchasing an additional 43 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. raised its holdings in Quanta Services by 214.5% in the second quarter. ASR Vermogensbeheer N.V. now owns 13,092 shares of the construction company’s stock worth $4,949,000 after buying an additional 8,929 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PWR shares. Citigroup raised their price target on shares of Quanta Services from $526.00 to $540.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Stifel Nicolaus boosted their price target on Quanta Services from $495.00 to $517.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Cantor Fitzgerald assumed coverage on Quanta Services in a research report on Friday, January 23rd. They set an “overweight” rating and a $520.00 price objective on the stock. Weiss Ratings upgraded Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Finally, JPMorgan Chase & Co. upgraded shares of Quanta Services from a “neutral” rating to an “overweight” rating and upped their target price for the company from $457.00 to $515.00 in a research note on Monday, December 8th. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $462.00.

Insider Buying and Selling

In other Quanta Services news, EVP Donald Wayne sold 14,000 shares of the company’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $443.81, for a total value of $6,213,340.00. Following the completion of the sale, the executive vice president owned 34,575 shares in the company, valued at $15,344,730.75. This represents a 28.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Gerald A. Ducey, Jr. sold 7,653 shares of Quanta Services stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $446.08, for a total value of $3,413,850.24. Following the transaction, the insider directly owned 19,960 shares in the company, valued at approximately $8,903,756.80. The trade was a 27.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 32,002 shares of company stock valued at $14,295,857. Company insiders own 1.10% of the company’s stock.

Quanta Services Price Performance

NYSE PWR opened at $474.80 on Friday. The company has a 50-day moving average price of $448.17 and a 200-day moving average price of $422.55. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $489.05. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $70.80 billion, a P/E ratio of 70.34, a PEG ratio of 2.34 and a beta of 1.16.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.24 by $0.09. Quanta Services had a net margin of 3.74% and a return on equity of 18.74%. The company had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same period in the previous year, the business posted $2.72 earnings per share. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. Equities research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Profile

Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.

In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.