Richardson Financial Services Inc. Has $757,000 Stock Position in Quanta Services, Inc. (NYSE:PWR)

Richardson Financial Services Inc. lessened its holdings in Quanta Services, Inc. (NYSE:PWR) by 11.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,979 shares of the construction company’s stock after selling 385 shares during the period. Richardson Financial Services Inc.’s holdings in Quanta Services were worth $757,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Quanta Services by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock valued at $4,245,452,000 after acquiring an additional 105,355 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Quanta Services by 2.4% during the first quarter. JPMorgan Chase & Co. now owns 6,760,260 shares of the construction company’s stock valued at $1,756,316,000 after purchasing an additional 156,627 shares during the last quarter. Capital World Investors raised its position in shares of Quanta Services by 10.7% in the first quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock valued at $1,726,042,000 after purchasing an additional 643,011 shares during the period. Artisan Partners Limited Partnership lifted its stake in shares of Quanta Services by 384.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock worth $526,261,000 after buying an additional 1,935,786 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Quanta Services by 17.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock worth $313,968,000 after buying an additional 186,306 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

PWR has been the topic of several recent analyst reports. TD Cowen lifted their target price on shares of Quanta Services from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Northland Securities boosted 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. Jefferies Financial Group initiated coverage on Quanta Services in a research note on Wednesday, September 4th. They set a “hold” rating and a $256.00 target price for the company. Citigroup upped their price target on Quanta Services from $299.00 to $302.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, Robert W. Baird raised their price objective on shares of Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and a consensus target price of $284.50.

Quanta Services Price Performance

Shares of PWR stock opened at $272.06 on Thursday. The stock’s fifty day moving average is $261.22 and its 200-day moving average is $260.89. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $286.87. The stock has a market capitalization of $40.08 billion, a PE ratio of 52.72 and a beta of 1.01.

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 the consensus estimate of $1.75 by $0.15. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The firm had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter last year, the company posted $1.47 EPS. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. Equities research analysts expect that Quanta Services, Inc. will post 7.82 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company 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. 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 6.98%.

Insider Buying and Selling at Quanta Services

In other news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the transaction, the insider now owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were 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 directly owns 593,402 shares of the company’s stock, valued at approximately $155,595,938.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was 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. In the last three months, insiders have sold 202,357 shares of company stock worth $53,115,572. Company insiders own 1.10% of the company’s stock.

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.