Quanta Services, Inc. (NYSE:PWR) Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc trimmed its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 12.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,123 shares of the construction company’s stock after selling 7,460 shares during the period. Ensign Peak Advisors Inc’s holdings in Quanta Services were worth $13,498,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Aveo Capital Partners LLC raised its stake in shares of Quanta Services by 11.0% during the fourth quarter. Aveo Capital Partners LLC now owns 1,313 shares of the construction company’s stock valued at $283,000 after purchasing an additional 130 shares during the period. Wells Fargo & Company MN boosted its position in Quanta Services by 19.8% during the 4th quarter. Wells Fargo & Company MN now owns 174,907 shares of the construction company’s stock valued at $37,745,000 after purchasing an additional 28,874 shares during the period. US Bancorp DE grew its position in shares of Quanta Services by 8.4% during the fourth quarter. US Bancorp DE now owns 13,333 shares of the construction company’s stock worth $2,877,000 after acquiring an additional 1,032 shares during the last quarter. Commerce Bank increased its stake in shares of Quanta Services by 5.5% in the fourth quarter. Commerce Bank now owns 4,477 shares of the construction company’s stock valued at $966,000 after purchasing an additional 232 shares during the period. Finally, Team Hewins LLC acquired a new stake in Quanta Services in the 4th quarter valued at approximately $209,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Citigroup raised their target price on shares of Quanta Services from $299.00 to $302.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Argus raised their price objective 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. B. Riley lifted their target price on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. The Goldman Sachs Group upped their price target on shares of Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Finally, Wolfe Research initiated coverage on Quanta Services in a report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $286.69.

Insider Activity at Quanta Services

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction on Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the sale, the insider now 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 can be accessed through this link. In related news, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the transaction, the insider now owns 10,631 shares in the company, valued at approximately $2,875,791.81. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were 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 in the company, valued at $5,490,297.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 202,357 shares of company stock worth $53,115,572. 1.10% of the stock is owned by corporate insiders.

Quanta Services Trading Up 1.7 %

Shares of PWR stock opened at $295.94 on Tuesday. 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’s fifty day simple moving average is $262.94 and its 200 day simple moving average is $262.08. The firm has a market capitalization of $43.32 billion, a P/E ratio of 57.35 and a beta of 1.01.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data 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 net margin of 3.59% and a return on equity of 16.29%. The business had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the prior year, the business earned $1.47 earnings per share. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, sell-side analysts predict that Quanta Services, Inc. will post 7.82 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently disclosed 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. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date is Tuesday, October 1st. Quanta Services’s dividend payout ratio is presently 6.98%.

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.