Quanta Services, Inc. (NYSE:PWR) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp decreased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 18.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 24,387 shares of the construction company’s stock after selling 5,652 shares during the period. Texas Permanent School Fund Corp’s holdings in Quanta Services were worth $6,196,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. EntryPoint Capital LLC acquired a new stake in shares of Quanta Services during the first quarter worth about $25,000. Private Ocean LLC acquired a new stake in Quanta Services during the 1st quarter worth approximately $26,000. Salomon & Ludwin LLC purchased a new position in Quanta Services in the 1st quarter valued at approximately $26,000. Cambridge Trust Co. acquired a new position in shares of Quanta Services in the first quarter worth $26,000. Finally, Quest Partners LLC acquired a new stake in shares of Quanta Services in the second quarter valued at $35,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO James Redgie Probst sold 34,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $260.03, for a total value of $8,841,020.00. Following the transaction, the chief operating officer now owns 29,002 shares in the company, valued at approximately $7,541,390.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total value of $6,318,302.07. Following the transaction, the insider now directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO James Redgie Probst sold 34,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the completion of the transaction, the chief operating officer now directly owns 29,002 shares in the company, valued at $7,541,390.06. The disclosure for this sale can be found here. Over the last three months, insiders sold 202,357 shares of company stock valued at $53,115,572. Insiders own 1.10% of the company’s stock.

Quanta Services Stock Up 5.2 %

PWR opened at $263.09 on Thursday. The stock has a market capitalization of $38.51 billion, a P/E ratio of 50.99 and a beta of 1.01. 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, Inc. has a one year low of $153.74 and a one year high of $286.87. The business’s 50-day simple moving average is $259.42 and its 200-day simple moving average is $259.75.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. The company had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. 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 business earned $1.47 earnings per share. Analysts anticipate that Quanta Services, Inc. will post 7.8 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. Quanta Services’s dividend payout ratio is presently 6.98%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PWR. Jefferies Financial Group started coverage on Quanta Services in a report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price target on the stock. Northland Securities raised their target price on shares of Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. TD Cowen boosted their price target on shares of Quanta Services from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. The Goldman Sachs Group raised their price objective on shares of Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Finally, Argus boosted their target price 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. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and a consensus price target of $284.50.

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.