Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board raised its position in shares of Quanta Services, Inc. (NYSE:PWR) by 242.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 43,664 shares of the construction company’s stock after purchasing an additional 30,899 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Quanta Services were worth $11,095,000 as of its most recent SEC filing.

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

Insider Activity at Quanta Services

In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 593,402 shares in the company, valued at $155,595,938.42. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction that occurred 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 owns 593,402 shares of the company’s stock, valued at $155,595,938.42. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company’s 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 sale, the insider now directly owns 21,286 shares of the company’s stock, valued at $5,490,297.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 202,357 shares of company stock valued at $53,115,572. Insiders own 1.10% of the company’s stock.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $295.94 on Tuesday. The business has a fifty day simple moving average of $262.94 and a 200 day simple moving average of $262.08. 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 1 year low of $153.74 and a 1 year high of $298.18. The firm has a market cap of $43.32 billion, a price-to-earnings ratio of 57.35 and a beta of 1.01.

Quanta Services (NYSE:PWR) last announced 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 business had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the previous year, the business posted $1.47 EPS. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, sell-side analysts predict that Quanta Services, Inc. will post 7.82 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

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 issued 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 dividend yield of 0.12%. Quanta Services’s dividend payout ratio is currently 6.98%.

Analysts Set New Price Targets

PWR has been the topic of several research reports. Northland Securities upped their price target on Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. TD Cowen increased their price target on Quanta Services from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. B. Riley boosted their price objective on Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Jefferies Financial Group initiated coverage on shares of Quanta Services in a report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 target price for the company. Finally, The Goldman Sachs Group boosted their price target on shares of Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.