Quest Partners LLC Buys New Holdings in Quanta Services, Inc. (NYSE:PWR)

Quest Partners LLC purchased a new position in Quanta Services, Inc. (NYSE:PWR) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 136 shares of the construction company’s stock, valued at approximately $35,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. EntryPoint Capital LLC purchased a new position in Quanta Services during the first quarter valued at $25,000. Private Ocean LLC purchased a new stake in Quanta Services during the 1st quarter valued at $26,000. Salomon & Ludwin LLC bought a new stake in Quanta Services in the first quarter worth $26,000. Cambridge Trust Co. purchased a new position in Quanta Services during the first quarter worth $26,000. Finally, Newbridge Financial Services Group Inc. bought a new position in Quanta Services during the fourth quarter valued at $34,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Trading Up 6.5 %

NYSE:PWR opened at $289.74 on Friday. The stock has a market capitalization of $42.69 billion, a price-to-earnings ratio of 56.15 and a beta of 1.01. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $291.71. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45. The firm has a 50 day moving average of $261.73 and a 200 day moving average of $261.09.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.75 by $0.15. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The firm had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the prior year, the business posted $1.47 EPS. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 7.82 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be given a $0.09 dividend. 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 payout ratio is currently 6.98%.

Insider Buying and Selling

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the firm’s 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 completion of the transaction, the insider now owns 10,631 shares of the company’s stock, valued at $2,875,791.81. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was 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 in the company, valued at $155,595,938.42. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Karl W. Studer sold 23,357 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the transaction, the insider now directly owns 10,631 shares of the company’s stock, valued at $2,875,791.81. The disclosure for this sale can be found here. Insiders sold 202,357 shares of company stock worth $53,115,572 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

PWR has been the subject of several analyst reports. Robert W. Baird raised their target price on shares of Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Northland Securities raised their price objective on shares of Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Argus upped their target price on Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Jefferies Financial Group began coverage on Quanta Services in a research note on Wednesday, September 4th. They set a “hold” rating and a $256.00 price target for the company. Finally, Truist Financial reaffirmed a “buy” rating and issued a $319.00 price objective (up previously from $305.00) on shares of Quanta Services in a research report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Quanta Services has a consensus 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.