McKinley Carter Wealth Services Inc. Makes New $7.71 Million Investment in Quanta Services, Inc. $PWR

by · The Markets Daily

McKinley Carter Wealth Services Inc. bought a new stake in Quanta Services, Inc. (NYSE:PWR – Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 18,603 shares of the construction company’s stock, valued at approximately $7,709,000.

A number of other large investors also recently bought and sold shares of the business. Copia Wealth Management raised its stake in Quanta Services by 509.1% in the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock worth $25,000 after buying an additional 56 shares in the last quarter. SOA Wealth Advisors LLC. increased its holdings in shares of Quanta Services by 159.3% during the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after acquiring an additional 43 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of Quanta Services during the second quarter worth $26,000. Activest Wealth Management grew its stake in Quanta Services by 94.1% during the 3rd quarter. Activest Wealth Management now owns 66 shares of the construction company’s stock valued at $27,000 after purchasing an additional 32 shares during the last quarter. Finally, Solstein Capital LLC increased its holdings in Quanta Services by 185.7% in the 2nd quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock worth $30,000 after buying an additional 52 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Insiders Place Their Bets

In other news, Director Bernard Fried sold 4,000 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $452.19, for a total transaction of $1,808,760.00. Following the transaction, the director directly owned 12,493 shares of the company’s stock, valued at $5,649,209.67. This represents a 24.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Worthing Jackman sold 6,349 shares of the company’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $450.45, for a total transaction of $2,859,907.05. Following the transaction, the director owned 2,730 shares in the company, valued at $1,229,728.50. The trade was a 69.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 32,002 shares of company stock valued at $14,295,857. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Argus set a $540.00 price objective on shares of Quanta Services in a research note on Friday, October 31st. Roth Mkm set a $500.00 price target on Quanta Services and gave the stock a “buy” rating in a research note on Friday, October 31st. Sanford C. Bernstein dropped their price objective on shares of Quanta Services from $432.00 to $428.00 and set a “market perform” rating for the company in a research note on Friday, December 19th. Mizuho set a $415.00 target price on Quanta Services in a research note on Tuesday, October 28th. Finally, Weiss Ratings upgraded shares of Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $462.00.

Check Out Our Latest Report on PWR

Quanta Services Stock Performance

Shares of PWR stock opened at $474.80 on Friday. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $489.05. The company has a market cap of $70.80 billion, a P/E ratio of 70.34, a PEG ratio of 2.34 and a beta of 1.16. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. The firm has a fifty day moving average price of $448.17 and a 200 day moving average price of $422.30.

Quanta Services (NYSE:PWR – Get Free Report) last announced its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 EPS for the quarter, topping 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 firm had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same period last year, the business earned $2.72 EPS. Quanta Services’s revenue for the quarter was up 17.5% compared to the same quarter last year. Sell-side analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

About Quanta Services

(Free Report)

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.

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