Quanta Services, Inc. (NYSE:PWR) Stake Boosted by Engle Capital Management L.P.

Engle Capital Management L.P. raised its position in shares of Quanta Services, Inc. (NYSE:PWR) by 13.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,000 shares of the construction company’s stock after buying an additional 4,900 shares during the quarter. Quanta Services accounts for 3.8% of Engle Capital Management L.P.’s portfolio, making the stock its 13th largest position. Engle Capital Management L.P.’s holdings in Quanta Services were worth $10,672,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. EntryPoint Capital LLC acquired a new position in Quanta Services during the first quarter valued at $25,000. Private Ocean LLC acquired a new position in shares of Quanta Services in the 1st quarter valued at about $26,000. Salomon & Ludwin LLC purchased a new stake in shares of Quanta Services in the first quarter worth approximately $26,000. Cambridge Trust Co. purchased a new position in Quanta Services during the first quarter valued at approximately $26,000. Finally, Valley Wealth Managers Inc. purchased a new stake in Quanta Services in the 2nd quarter worth approximately $33,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PWR. Wolfe Research assumed coverage on shares of Quanta Services in a research note on Thursday, September 19th. They set an “outperform” rating and a $313.00 target price for the company. Citigroup boosted their target price on Quanta Services from $299.00 to $302.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Robert W. Baird raised their price target on Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Jefferies Financial Group started coverage on Quanta Services in a research note on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price target for the company. Finally, Truist Financial reaffirmed a “buy” rating and set a $319.00 price objective (up previously from $305.00) on shares of Quanta Services in a research report on Monday, August 5th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $286.69.

Quanta Services Stock Down 0.1 %

Quanta Services stock opened at $297.94 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $302.24. The firm has a fifty day moving average price of $264.78 and a two-hundred day moving average price of $262.72. The firm has a market cap of $43.61 billion, a price-to-earnings ratio of 57.74 and a beta of 1.01.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the firm posted $1.47 EPS. The company’s revenue was up 10.8% on a year-over-year basis. As a group, analysts forecast that Quanta Services, Inc. will post 7.82 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend is Tuesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is currently 6.98%.

Insider Buying and Selling at Quanta Services

In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the business’s stock in a transaction dated 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 owns 593,402 shares in the company, valued at approximately $155,595,938.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the sale, the chief executive officer now directly owns 593,402 shares of the company’s stock, valued at $155,595,938.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $257.93, for a total value of $3,868,950.00. Following the completion of the transaction, the insider now directly owns 21,286 shares of the company’s stock, valued at approximately $5,490,297.98. The disclosure for this sale can be found here. Insiders sold a total of 202,357 shares of company stock valued at $53,115,572 in the last ninety days. Company insiders own 1.10% of the company’s stock.

Quanta Services Company 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.