Ascent Group LLC Has $3.16 Million Stake in Quanta Services, Inc. (NYSE:PWR)

Ascent Group LLC grew its position in Quanta Services, Inc. (NYSE:PWR) by 14.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 12,426 shares of the construction company’s stock after buying an additional 1,598 shares during the period. Ascent Group LLC’s holdings in Quanta Services were worth $3,157,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Driehaus Capital Management LLC raised its position in shares of Quanta Services by 21.9% during the second quarter. Driehaus Capital Management LLC now owns 102,771 shares of the construction company’s stock worth $26,113,000 after acquiring an additional 18,466 shares during the last quarter. Scientech Research LLC bought a new stake in shares of Quanta Services during the second quarter worth $1,359,000. Mackenzie Financial Corp raised its position in shares of Quanta Services by 1.6% during the second quarter. Mackenzie Financial Corp now owns 12,762 shares of the construction company’s stock worth $3,243,000 after acquiring an additional 204 shares during the last quarter. MBB Public Markets I LLC raised its position in shares of Quanta Services by 1,802.9% during the second quarter. MBB Public Markets I LLC now owns 18,972 shares of the construction company’s stock worth $4,821,000 after acquiring an additional 17,975 shares during the last quarter. Finally, Electron Capital Partners LLC raised its position in shares of Quanta Services by 395.1% during the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock worth $666,260,000 after acquiring an additional 2,092,519 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Insider Transactions at Quanta Services

In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 21,286 shares of the company’s stock, valued at $5,490,297.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 21,286 shares of the company’s stock, valued at $5,490,297.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Karl W. Studer sold 23,357 shares of the stock in a transaction that occurred 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 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 valued at $53,115,572 over the last three months. Company insiders own 1.10% of the company’s stock.

Quanta Services Stock Up 0.1 %

NYSE:PWR opened at $296.74 on Friday. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $306.50. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.45. The stock has a market cap of $43.72 billion, a price-to-earnings ratio of 57.51 and a beta of 1.01. The stock has a 50-day moving average price of $266.18 and a two-hundred day moving average price of $263.50.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the previous year, the firm earned $1.47 earnings per share. The company’s revenue was up 10.8% on a year-over-year basis. As a group, equities analysts expect that Quanta Services, Inc. will post 7.82 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.36 annualized dividend and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio is currently 6.98%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Robert W. Baird boosted their target price on Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. B. Riley upped their price objective on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Wolfe Research initiated coverage on Quanta Services in a report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price objective for the company. Truist Financial reiterated a “buy” rating and issued a $319.00 price objective (up previously from $305.00) on shares of Quanta Services in a report on Monday, August 5th. Finally, Citigroup upped their price objective on Quanta Services from $299.00 to $302.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $286.69.

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.