Ieq Capital LLC Has $2.78 Million Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Ieq Capital LLC boosted its holdings in Quanta Services, Inc. (NYSE:PWR) by 9.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,947 shares of the construction company’s stock after buying an additional 985 shares during the quarter. Ieq Capital LLC’s holdings in Quanta Services were worth $2,782,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Quanta Services by 0.6% in the first quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock valued at $4,245,452,000 after purchasing an additional 105,355 shares during the period. JPMorgan Chase & Co. raised its holdings in Quanta Services by 2.4% during the 1st quarter. JPMorgan Chase & Co. now owns 6,760,260 shares of the construction company’s stock worth $1,756,316,000 after purchasing an additional 156,627 shares during the last quarter. Capital World Investors lifted its position in shares of Quanta Services by 10.7% in the 1st quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock worth $1,726,042,000 after purchasing an additional 643,011 shares during the period. Artisan Partners Limited Partnership increased its position in shares of Quanta Services by 384.9% during 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 period. Finally, Massachusetts Financial Services Co. MA raised its stake in Quanta Services by 17.8% during the second 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 last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, COO James Redgie Probst sold 34,000 shares of the business’s stock in a transaction dated 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 transaction, the chief operating officer now directly owns 29,002 shares of the company’s stock, valued at approximately $7,541,390.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Quanta Services news, COO James Redgie Probst sold 34,000 shares of Quanta Services stock in a transaction dated 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 sale, the chief operating officer now owns 29,002 shares of the company’s stock, valued at $7,541,390.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the transaction, the chief executive officer now directly owns 593,402 shares of the company’s stock, valued at $155,595,938.42. The disclosure for this sale can be found here. Insiders sold a total of 202,357 shares of company stock valued at $53,115,572 in the last ninety days. 1.10% of the stock is currently owned by insiders.

Quanta Services Stock Performance

Shares of PWR stock opened at $290.89 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. The firm has a 50-day moving average of $262.17 and a 200-day moving average of $261.57. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $293.80. The company has a market cap of $42.58 billion, a P/E ratio of 56.37 and a beta of 1.01.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter last year, the firm earned $1.47 EPS. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. Equities research analysts forecast that Quanta Services, Inc. will post 7.82 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st will be paid a $0.09 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.12%. Quanta Services’s dividend payout ratio (DPR) is presently 6.98%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PWR. Truist Financial reiterated a “buy” rating and set a $319.00 price target (up from $305.00) on shares of Quanta Services in a report on Monday, August 5th. Wolfe Research started coverage on Quanta Services in a research note on Thursday. They set an “outperform” rating and a $313.00 target price for the company. The Goldman Sachs Group lifted their price target on shares of Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Northland Securities raised their price objective on Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, TD Cowen upped 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. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $286.69.

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.