Quanta Services, Inc. (NYSE:PWR) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 5.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,541 shares of the construction company’s stock after selling 699 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Quanta Services were worth $3,187,000 at the end of the most recent quarter.

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

Insider Activity

In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 593,402 shares of the company’s stock, valued at approximately $155,595,938.42. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the completion of the transaction, the chief executive officer now owns 593,402 shares of the company’s stock, valued at $155,595,938.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business’s 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 completion of the sale, 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 quarter, insiders have sold 202,357 shares of company stock worth $53,115,572. 1.10% of the stock is currently owned by corporate insiders.

Quanta Services Trading Up 6.5 %

NYSE:PWR opened at $289.74 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.45. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $291.71. The firm has a fifty day simple moving average of $261.73 and a two-hundred day simple moving average of $261.09. The stock has a market capitalization of $42.69 billion, a price-to-earnings ratio of 56.15 and a beta of 1.01.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The company had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the business posted $1.47 earnings per share. Quanta Services’s revenue was up 10.8% on a year-over-year basis. Analysts expect that Quanta Services, Inc. will post 7.82 EPS for the current fiscal 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 dividend of $0.09 per share. The ex-dividend date is Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio (DPR) is presently 6.98%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Citigroup lifted their target price on shares of Quanta Services from $299.00 to $302.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Robert W. Baird raised their price target on shares of Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. The Goldman Sachs Group upped their target price on Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Argus increased their price target on shares of Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Finally, Northland Securities upped their target price on Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and an average target price of $286.69.

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.