Quanta Services, Inc. (NYSE:PWR) Shares Bought by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 57.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,418 shares of the construction company’s stock after buying an additional 886 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Quanta Services were worth $614,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PWR. Vanguard Group Inc. lifted its position in Quanta Services by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock worth $4,245,452,000 after acquiring an additional 105,355 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Quanta Services by 2.4% during the first quarter. JPMorgan Chase & Co. now owns 6,760,260 shares of the construction company’s stock worth $1,756,316,000 after purchasing an additional 156,627 shares during the last quarter. Capital World Investors lifted its holdings in shares of Quanta Services by 10.7% during the first quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock worth $1,726,042,000 after purchasing an additional 643,011 shares during the period. Artisan Partners Limited Partnership grew its position in Quanta Services by 384.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock valued at $526,261,000 after buying an additional 1,935,786 shares during the last quarter. Finally, Norges Bank acquired a new position in Quanta Services in the 4th quarter valued at $335,777,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Argus boosted their price target on shares of Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. TD Cowen lifted their price target on Quanta Services from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. The Goldman Sachs Group increased their price objective on Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. B. Riley raised their target price on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Robert W. Baird raised their price objective on shares of Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and a consensus target price of $284.50.

Insider Transactions at Quanta Services

In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total value of $34,087,300.00. Following the completion of the sale, the chief executive officer now directly owns 593,402 shares in the company, valued at $155,595,938.42. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total value of $34,087,300.00. Following the transaction, the chief executive officer now owns 593,402 shares in the company, valued at approximately $155,595,938.42. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company’s stock in a transaction on 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. The disclosure for this sale can be found here. Insiders have sold a total of 202,357 shares of company stock worth $53,115,572 in the last three months. Company insiders own 1.10% of the company’s stock.

Quanta Services Stock Performance

Quanta Services stock opened at $269.54 on Friday. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $286.87. The company has a market capitalization of $39.71 billion, a price-to-earnings ratio of 52.24 and a beta of 1.01. The stock has a fifty day moving average of $260.21 and a two-hundred day moving average of $260.07. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.15. The firm had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.47 EPS. On average, analysts anticipate that Quanta Services, Inc. will post 7.82 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date is Tuesday, October 1st. Quanta Services’s payout ratio is 6.98%.

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.