Headlands Technologies LLC Sells 3,624 Shares of Quanta Services, Inc. (NYSE:PWR)

Headlands Technologies LLC lessened its stake in Quanta Services, Inc. (NYSE:PWR) by 85.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 607 shares of the construction company’s stock after selling 3,624 shares during the period. Headlands Technologies LLC’s holdings in Quanta Services were worth $154,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of PWR. EntryPoint Capital LLC bought a new position in shares of Quanta Services during the first quarter worth $25,000. Private Ocean LLC acquired a new position in Quanta Services during the first quarter valued at approximately $26,000. Salomon & Ludwin LLC acquired a new position in Quanta Services during the first quarter worth $26,000. Cambridge Trust Co. bought a new position in Quanta Services during the first quarter worth about $26,000. Finally, Quest Partners LLC bought a new stake in Quanta Services in the 2nd quarter valued at $35,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insiders Place Their Bets

In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s 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 sale, the insider now owns 21,286 shares of the company’s stock, valued at $5,490,297.98. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business’s stock in a transaction dated 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 directly owns 21,286 shares in the company, valued at approximately $5,490,297.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the completion of the transaction, the insider now owns 10,631 shares in the company, valued at $2,875,791.81. The disclosure for this sale can be found here. Insiders have sold 202,357 shares of company stock valued at $53,115,572 over the last ninety days. Company insiders own 1.10% of the company’s stock.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $269.54 on Friday. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $286.87. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30. The firm has a fifty day moving average price of $260.21 and a 200 day moving average price of $260.07. The firm has a market cap of $39.71 billion, a price-to-earnings ratio of 52.24 and a beta of 1.01.

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

Quanta Services Announces Dividend

The firm 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. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.13%. Quanta Services’s payout ratio is presently 6.98%.

Wall Street Analysts Forecast Growth

PWR has been the topic of a number of research reports. Robert W. Baird upped their price objective on Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Argus lifted their target price on shares of Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Northland Securities increased their target price on shares of Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. The Goldman Sachs Group raised their target price on Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Finally, Truist Financial restated a “buy” rating and issued a $319.00 target price (up from $305.00) on shares of Quanta Services in a research note on Monday, August 5th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $284.50.

About Quanta Services

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.