Quanta Services, Inc. (NYSE:PWR) Stake Boosted by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ increased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 1.0% 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 29,895 shares of the construction company’s stock after acquiring an additional 303 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Quanta Services were worth $7,596,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Westside Investment Management Inc. lifted its holdings in shares of Quanta Services by 20.5% during the 2nd quarter. Westside Investment Management Inc. now owns 241 shares of the construction company’s stock valued at $61,000 after buying an additional 41 shares during the last quarter. Ameritas Advisory Services LLC lifted its stake in Quanta Services by 5.0% in the second quarter. Ameritas Advisory Services LLC now owns 876 shares of the construction company’s stock valued at $223,000 after acquiring an additional 42 shares during the last quarter. Aspen Investment Management Inc grew its position in Quanta Services by 3.7% in the second quarter. Aspen Investment Management Inc now owns 1,254 shares of the construction company’s stock worth $319,000 after acquiring an additional 45 shares in the last quarter. Terra Nova Asset Management LLC increased its stake in shares of Quanta Services by 0.4% during the 2nd quarter. Terra Nova Asset Management LLC now owns 12,741 shares of the construction company’s stock worth $3,237,000 after purchasing an additional 46 shares during the last quarter. Finally, Wedmont Private Capital raised its holdings in shares of Quanta Services by 1.0% during the 1st quarter. Wedmont Private Capital now owns 4,674 shares of the construction company’s stock valued at $1,198,000 after purchasing an additional 47 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

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 Announces Dividend

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%.

Wall Street Analysts Forecast Growth

Several research firms have commented on PWR. Citigroup increased 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. 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. B. Riley upped their target price on Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Argus lifted their price target on shares of Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Finally, Robert W. Baird upped their price objective 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. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $286.69.

Insider Activity

In other news, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services 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 sale, the chief executive officer now directly owns 593,402 shares in the company, valued at approximately $155,595,938.42. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $155,595,938.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total value of $6,318,302.07. Following the completion of the sale, the insider now owns 10,631 shares in the company, valued at $2,875,791.81. The disclosure for this sale can be found here. In the last 90 days, insiders sold 202,357 shares of company stock worth $53,115,572. 1.10% of the stock is currently owned by corporate insiders.

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.