Quanta Services, Inc. (NYSE:PWR) Stake Boosted by Holderness Investments Co.

Holderness Investments Co. increased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 2.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,778 shares of the construction company’s stock after acquiring an additional 48 shares during the period. Holderness Investments Co.’s holdings in Quanta Services were worth $452,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. EntryPoint Capital LLC acquired 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 Quanta Services in the first quarter valued at approximately $26,000. Salomon & Ludwin LLC bought a new stake in Quanta Services in the first quarter worth approximately $26,000. Cambridge Trust Co. acquired a new position in shares of Quanta Services during the 1st quarter worth $26,000. Finally, Valley Wealth Managers Inc. acquired a new stake in shares of Quanta Services in the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Insider Buying and Selling at Quanta Services

In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, 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 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services 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 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 have sold 202,357 shares of company stock valued at $53,115,572 in the last 90 days. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on PWR. The Goldman Sachs Group increased their target price on shares of Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Wolfe Research began coverage on Quanta Services in a research note on Thursday. They issued an “outperform” rating and a $313.00 price objective on the stock. Jefferies Financial Group assumed coverage on Quanta Services in a research report on Wednesday, September 4th. They set a “hold” rating and a $256.00 target price for the company. Robert W. Baird lifted their price target on shares of Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Finally, Truist Financial reaffirmed a “buy” rating and set a $319.00 price objective (up from $305.00) on shares of Quanta Services in a report on Monday, August 5th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $286.69.

Quanta Services Stock Up 0.4 %

Shares of PWR opened at $290.89 on Friday. 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 company has a 50-day simple moving average of $262.17 and a 200-day simple moving average of $261.57. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $293.80. The firm has a market capitalization of $42.58 billion, a P/E ratio of 56.37 and a beta of 1.01.

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

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.09 per share. 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 0.12%. Quanta Services’s dividend payout ratio is currently 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.