4,059 Shares in Quanta Services, Inc. (NYSE:PWR) Purchased by Acadian Asset Management LLC

Acadian Asset Management LLC bought a new stake in Quanta Services, Inc. (NYSE:PWR) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,059 shares of the construction company’s stock, valued at approximately $1,031,000.

Other hedge funds also recently modified their holdings of the company. EntryPoint Capital LLC acquired a new position in shares of Quanta Services during the 1st quarter worth about $25,000. Private Ocean LLC acquired a new position in shares of Quanta Services during the 1st quarter worth approximately $26,000. Salomon & Ludwin LLC bought a new position in Quanta Services during the 1st quarter worth $26,000. Cambridge Trust Co. bought a new position in shares of Quanta Services in the first quarter worth $26,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Quanta Services in the 4th quarter valued at approximately $34,000. Institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Northland Securities upped their price objective on Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Truist Financial reissued a “buy” rating and set a $319.00 target price (up previously from $305.00) on shares of Quanta Services in a research note on Monday, August 5th. The Goldman Sachs Group boosted their price target on Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Robert W. Baird raised their target price on Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Finally, Citigroup boosted 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 equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $284.50.

Insiders Place Their Bets

In other news, insider Karl W. Studer sold 23,357 shares of the firm’s 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 completion of the transaction, the insider now directly owns 10,631 shares in the company, valued at $2,875,791.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 593,402 shares of the company’s stock, valued at $155,595,938.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Karl W. Studer sold 23,357 shares of the firm’s stock in a transaction dated 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 in the company, valued at $2,875,791.81. The disclosure for this sale can be found here. Insiders have sold a total of 202,357 shares of company stock worth $53,115,572 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Stock Performance

Shares of PWR opened at $271.59 on Tuesday. The company has a market capitalization of $40.01 billion, a price-to-earnings ratio of 52.63 and a beta of 1.01. 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 50 day moving average of $260.21 and a 200 day moving average of $260.37. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $286.87.

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, beating analysts’ consensus estimates of $1.75 by $0.15. The firm had revenue of $5.59 billion during 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%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.47 EPS. As a group, sell-side analysts forecast that Quanta Services, Inc. will post 7.82 earnings per share for the current 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 $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.13%. The ex-dividend date of this dividend is Tuesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is currently 6.98%.

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.