Glass Jacobson Investment Advisors llc Makes New $169,000 Investment in Quanta Services, Inc. (NYSE:PWR)

Glass Jacobson Investment Advisors llc acquired a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 665 shares of the construction company’s stock, valued at approximately $169,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PWR. Westside Investment Management Inc. grew its position in Quanta Services by 20.5% during the second quarter. Westside Investment Management Inc. now owns 241 shares of the construction company’s stock valued at $61,000 after acquiring an additional 41 shares during the period. Ameritas Advisory Services LLC grew its holdings in shares of Quanta Services by 5.0% during 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 during the period. Aspen Investment Management Inc grew its holdings in shares of Quanta Services by 3.7% during 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 during the period. Terra Nova Asset Management LLC increased its position in Quanta Services by 0.4% during 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 raised its holdings in Quanta Services by 1.0% in the first quarter. Wedmont Private Capital now owns 4,674 shares of the construction company’s stock valued at $1,198,000 after buying an additional 47 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PWR has been the subject of several recent research reports. Citigroup increased their price objective on shares of Quanta Services from $299.00 to $302.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. The Goldman Sachs Group raised their price objective on Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Argus upped their target price on Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. TD Cowen raised their target price on Quanta Services from $270.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, Jefferies Financial Group initiated coverage on Quanta Services in a report 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 eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and an average price target of $286.69.

Insiders Place Their Bets

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the sale, the insider now directly owns 21,286 shares of the company’s stock, valued at $5,490,297.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the sale, the insider now directly owns 10,631 shares of the company’s stock, valued at $2,875,791.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s stock in a transaction 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 sale, the insider now owns 21,286 shares in the company, valued at $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 over the last 90 days. 1.10% of the stock is owned by company insiders.

Quanta Services Price Performance

Shares of PWR stock opened at $289.74 on Friday. The firm has a fifty day moving average of $261.73 and a two-hundred day moving average of $261.09. The firm has a market cap of $42.69 billion, a P/E ratio of 56.15 and a beta of 1.01. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $291.71. 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 (NYSE:PWR) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, topping 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 business had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the firm earned $1.47 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, research analysts anticipate that Quanta Services, Inc. will post 7.82 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend is Tuesday, October 1st. Quanta Services’s dividend payout ratio is currently 6.98%.

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.