Tredje AP fonden Sells 255 Shares of Quanta Services, Inc. (NYSE:PWR)

Tredje AP fonden reduced its stake in Quanta Services, Inc. (NYSE:PWR) by 1.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,764 shares of the construction company’s stock after selling 255 shares during the period. Tredje AP fonden’s holdings in Quanta Services were worth $4,005,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. EntryPoint Capital LLC purchased a new position in shares of Quanta Services during the first quarter valued at approximately $25,000. Private Ocean LLC purchased a new position in Quanta Services during the first quarter valued at $26,000. Salomon & Ludwin LLC bought a new position in Quanta Services in the 1st quarter worth about $26,000. Cambridge Trust Co. bought a new position in shares of Quanta Services in the first quarter worth approximately $26,000. Finally, Valley Wealth Managers Inc. bought a new position in Quanta Services in the 2nd quarter valued at approximately $33,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on PWR. Argus upped their target price on shares of Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Citigroup boosted their price target on Quanta Services from $299.00 to $302.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Truist Financial reissued a “buy” rating and issued a $319.00 price objective (up from $305.00) on shares of Quanta Services in a research note on Monday, August 5th. TD Cowen increased their target price on Quanta Services from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, B. Riley lifted their price target on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $284.50.

Quanta Services Stock Down 0.7 %

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

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

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be issued a $0.09 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.13%. Quanta Services’s payout ratio is 6.98%.

Quanta Services 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.