Thoroughbred Financial Services LLC Makes New $421,000 Investment in Quanta Services, Inc. (NYSE:PWR)

Thoroughbred Financial Services LLC acquired a new stake in Quanta Services, Inc. (NYSE:PWR) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,660 shares of the construction company’s stock, valued at approximately $421,000.

Several other hedge funds also recently modified their holdings of the stock. Aveo Capital Partners LLC increased its stake in Quanta Services by 11.0% during the 4th quarter. Aveo Capital Partners LLC now owns 1,313 shares of the construction company’s stock valued at $283,000 after purchasing an additional 130 shares in the last quarter. Foundations Investment Advisors LLC bought a new stake in Quanta Services during the 4th quarter valued at $210,000. Brown Advisory Inc. increased its stake in Quanta Services by 2.2% during the 4th quarter. Brown Advisory Inc. now owns 43,796 shares of the construction company’s stock valued at $9,451,000 after purchasing an additional 952 shares in the last quarter. Norges Bank purchased a new position in Quanta Services during the 4th quarter worth $335,777,000. Finally, UBS Group AG boosted its holdings in Quanta Services by 31.5% during the 4th quarter. UBS Group AG now owns 1,246,229 shares of the construction company’s stock worth $268,936,000 after acquiring an additional 298,540 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PWR shares. Citigroup boosted their price target on shares of Quanta Services from $299.00 to $302.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. The Goldman Sachs Group upped their price target on Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. B. Riley upped their price target on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Northland Securities upped their price objective on shares of Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Argus upped their price objective 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. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and an average price target of $284.50.

Insider Activity at Quanta Services

In other Quanta Services news, COO James Redgie Probst sold 34,000 shares of Quanta Services stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $260.03, for a total value of $8,841,020.00. Following the sale, the chief operating officer now owns 29,002 shares of the company’s stock, valued at approximately $7,541,390.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction on Friday, August 9th. The stock was 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 in the company, valued at $5,490,297.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO James Redgie Probst sold 34,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were 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 of the company’s stock, valued at $7,541,390.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is owned by company insiders.

Quanta Services Trading Up 0.8 %

Shares of NYSE:PWR opened at $271.59 on Tuesday. The stock 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 debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30. The stock’s 50-day simple moving average is $260.21 and its two-hundred day simple moving average is $260.37. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $286.87.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.47 EPS. Analysts expect that Quanta Services, Inc. will post 7.82 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.13%. The ex-dividend date is Tuesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is presently 6.98%.

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.