Royal London Asset Management Ltd. Sells 3,747 Shares of Quanta Services, Inc. (NYSE:PWR)

Royal London Asset Management Ltd. trimmed its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 6.1% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 57,308 shares of the construction company’s stock after selling 3,747 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Quanta Services were worth $14,556,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of PWR. Westside Investment Management Inc. increased its holdings in Quanta Services by 20.5% in the 2nd quarter. Westside Investment Management Inc. now owns 241 shares of the construction company’s stock worth $61,000 after purchasing an additional 41 shares in the last quarter. Ameritas Advisory Services LLC increased its holdings in Quanta Services by 5.0% in the 2nd quarter. Ameritas Advisory Services LLC now owns 876 shares of the construction company’s stock worth $223,000 after purchasing an additional 42 shares in the last quarter. Aspen Investment Management Inc increased its holdings in Quanta Services by 3.7% in the 2nd quarter. Aspen Investment Management Inc now owns 1,254 shares of the construction company’s stock worth $319,000 after purchasing an additional 45 shares in the last quarter. Terra Nova Asset Management LLC increased its holdings in Quanta Services by 0.4% in the 2nd quarter. Terra Nova Asset Management LLC now owns 12,741 shares of the construction company’s stock worth $3,237,000 after purchasing an additional 46 shares in the last quarter. Finally, Wedmont Private Capital increased its holdings in Quanta Services by 1.0% in the 1st quarter. Wedmont Private Capital now owns 4,674 shares of the construction company’s stock worth $1,198,000 after purchasing an additional 47 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 21,286 shares in the company, valued at $5,490,297.98. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 21,286 shares in the company, valued at $5,490,297.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO James Redgie Probst sold 34,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $260.03, for a total value of $8,841,020.00. Following the completion of the transaction, the chief operating officer now owns 29,002 shares in the company, valued at approximately $7,541,390.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 202,357 shares of company stock worth $53,115,572. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Stock Up 2.1 %

Shares of Quanta Services stock opened at $268.50 on Friday. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $286.87. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. The stock’s 50-day moving average is $259.87 and its 200 day moving average is $259.84. The firm has a market cap of $39.31 billion, a price-to-earnings ratio of 52.03 and a beta of 1.01.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.15. The business had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The company’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.47 earnings per share. Equities research analysts anticipate that Quanta Services, Inc. will post 7.8 EPS for the current year.

Quanta Services Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on PWR shares. Argus upped their target price on Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. B. Riley increased their price target on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Robert W. Baird increased their price target on Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. TD Cowen increased 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. Finally, Jefferies Financial Group assumed 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. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and a consensus price target of $284.50.

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.