Sunbelt Securities Inc. Purchases 74 Shares of Quanta Services, Inc. (NYSE:PWR)

Sunbelt Securities Inc. increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 4.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,700 shares of the construction company’s stock after buying an additional 74 shares during the period. Sunbelt Securities Inc.’s holdings in Quanta Services were worth $432,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC acquired a new stake in Quanta Services during the 1st quarter valued at approximately $25,000. Private Ocean LLC bought a new stake in Quanta Services in the first quarter worth approximately $26,000. Salomon & Ludwin LLC acquired a new position in Quanta Services in the first quarter valued at approximately $26,000. Cambridge Trust Co. bought a new position in shares of Quanta Services during the 1st quarter worth approximately $26,000. Finally, Valley Wealth Managers Inc. bought a new position in Quanta Services during the second quarter worth $33,000. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Performance

Shares of PWR opened at $296.05 on Wednesday. The stock’s 50-day simple moving average is $266.79 and its 200 day simple moving average is $264.05. The stock has a market capitalization of $43.34 billion, a price-to-earnings ratio of 57.37 and a beta of 1.01. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $306.50. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. The firm had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.47 EPS. 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. Stockholders of record on Tuesday, October 1st will be issued a $0.09 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services’s payout ratio is 6.98%.

Insider Buying and Selling

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $257.93, for a total value of $3,868,950.00. Following the completion of the sale, the insider now owns 21,286 shares in the company, valued at $5,490,297.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related 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 value 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 document filed with the SEC, which is accessible through this hyperlink. Also, insider Karl W. Studer sold 23,357 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the completion of the sale, the insider now directly owns 10,631 shares of the company’s stock, valued at $2,875,791.81. The disclosure for this sale can be found here. Insiders have sold a total of 202,357 shares of company stock worth $53,115,572 in the last 90 days. 1.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on PWR. Truist Financial reissued a “buy” rating and set a $319.00 price objective (up previously from $305.00) on shares of Quanta Services in a research report on Monday, August 5th. Jefferies Financial Group started coverage on Quanta Services in a report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 target price on the stock. TD Cowen lifted their price objective on shares of Quanta Services from $270.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Wolfe Research assumed coverage on shares of Quanta Services in a report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 target price on the stock. Finally, Robert W. Baird raised their target price on Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and a consensus target price 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.