Blair William & Co. IL Increases Holdings in Quanta Services, Inc. (NYSE:PWR)

Blair William & Co. IL grew its stake in Quanta Services, Inc. (NYSE:PWR) by 9.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,202 shares of the construction company’s stock after purchasing an additional 2,111 shares during the period. Blair William & Co. IL’s holdings in Quanta Services were worth $6,403,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PWR. EntryPoint Capital LLC bought a new stake in shares of Quanta Services in the 1st quarter worth about $25,000. Private Ocean LLC purchased a new stake in Quanta Services in the 1st quarter worth about $26,000. Salomon & Ludwin LLC purchased a new position in shares of Quanta Services during the first quarter valued at approximately $26,000. Cambridge Trust Co. bought a new position in shares of Quanta Services during the first quarter valued at 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 currently owned by institutional investors.

Insider Activity

In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the transaction, the insider now directly owns 21,286 shares in the company, valued at approximately $5,490,297.98. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services 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 sale, the insider now directly owns 21,286 shares in the company, valued at approximately $5,490,297.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO James Redgie Probst sold 34,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the sale, the chief operating officer now directly owns 29,002 shares in the company, valued at approximately $7,541,390.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 202,357 shares of company stock worth $53,115,572. Insiders own 1.10% of the company’s stock.

Quanta Services Price Performance

Shares of PWR stock opened at $290.89 on Friday. The company has a market cap of $42.58 billion, a P/E ratio of 56.37 and a beta of 1.01. 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 $262.17 and its 200 day moving average is $261.42. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $293.80.

Quanta Services (NYSE:PWR) last released its quarterly earnings results 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 business had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same period last year, the business earned $1.47 EPS. Research analysts predict that Quanta Services, Inc. will post 7.82 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders 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 dividend yield of 0.12%. The ex-dividend date of this dividend is Tuesday, October 1st. Quanta Services’s payout ratio is presently 6.98%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group boosted their price objective on Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Robert W. Baird lifted their price objective on shares of Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Jefferies Financial Group initiated coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They issued a “hold” rating and a $256.00 target price on the stock. Citigroup boosted their price target on Quanta Services from $299.00 to $302.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, Wolfe Research initiated coverage on Quanta Services in a 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 issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $286.69.

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.