Quanta Services, Inc. (NYSE:PWR) Stock Holdings Lessened by Amalgamated Bank

Amalgamated Bank trimmed its stake in Quanta Services, Inc. (NYSE:PWR) by 1.2% in the second quarter, Holdings Channel.com reports. The firm owned 30,032 shares of the construction company’s stock after selling 356 shares during the quarter. Amalgamated Bank’s holdings in Quanta Services were worth $7,631,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PWR. EntryPoint Capital LLC purchased a new stake in shares of Quanta Services in the first quarter worth approximately $25,000. Private Ocean LLC purchased a new stake in shares of Quanta Services in the first quarter worth approximately $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 stake in shares of Quanta Services in the first quarter worth approximately $26,000. Finally, Valley Wealth Managers Inc. purchased a new stake in shares of Quanta Services in the second quarter worth approximately $33,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. 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 report on Friday, July 19th. Argus raised their price objective on shares of Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. TD Cowen raised their price objective on shares of Quanta Services from $270.00 to $280.00 and gave the company a “buy” rating in a research 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 research report on Tuesday, May 28th. Finally, Wolfe Research assumed coverage on shares of Quanta Services in a research report on Thursday. They set an “outperform” rating and a $313.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $286.69.

Quanta Services Trading Up 6.5 %

Shares of PWR stock opened at $289.74 on Friday. The business’s 50 day moving average is $261.73 and its two-hundred day moving average is $261.09. The company has a market cap of $42.69 billion, a PE ratio of 56.15 and a beta of 1.01. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $291.71.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data 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 the consensus estimate of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. Quanta Services’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the company posted $1.47 earnings per share. Equities analysts predict that Quanta Services, Inc. will post 7.82 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders 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 annualized dividend and a dividend yield of 0.12%. Quanta Services’s payout ratio is 6.98%.

Insider Transactions at Quanta Services

In other news, 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 sale, 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 is available at this hyperlink. In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the business’s 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 sale, the chief executive officer now owns 593,402 shares of the company’s stock, valued at approximately $155,595,938.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business’s 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 completion of the sale, the insider now directly owns 21,286 shares in the company, valued at approximately $5,490,297.98. 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. Insiders own 1.10% of the company’s stock.

Quanta Services 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.