Saxon Interests Inc. Sells 912 Shares of Quanta Services, Inc. (NYSE:PWR)

Saxon Interests Inc. decreased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 14.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,362 shares of the construction company’s stock after selling 912 shares during the period. Saxon Interests Inc.’s holdings in Quanta Services were worth $1,599,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PWR. EntryPoint Capital LLC acquired a new stake in Quanta Services in the 1st quarter valued at $25,000. Private Ocean LLC bought a new stake in shares of Quanta Services in the 1st quarter worth about $26,000. Salomon & Ludwin LLC acquired a new position in Quanta Services in the first quarter valued at about $26,000. Cambridge Trust Co. bought a new position in shares of Quanta Services in the first quarter valued at approximately $26,000. Finally, Valley Wealth Managers Inc. bought a new stake in Quanta Services during the 2nd quarter worth approximately $33,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services 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 owns 593,402 shares in the company, valued at $155,595,938.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the business’s 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 sale, the chief executive officer now directly owns 593,402 shares of the company’s stock, valued at approximately $155,595,938.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 21,286 shares in the company, valued at approximately $5,490,297.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 202,357 shares of company stock worth $53,115,572 over the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on PWR shares. Robert W. Baird increased their target price on Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Jefferies Financial Group began coverage on shares of Quanta Services in a report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price objective on the stock. Truist Financial reaffirmed a “buy” rating and issued a $319.00 target price (up from $305.00) on shares of Quanta Services in a research note on Monday, August 5th. Northland Securities raised their price target on shares of Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. assumed coverage on Quanta Services in a report on Monday. They set a “neutral” rating and a $297.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and a consensus target price of $290.71.

Quanta Services Trading Down 1.0 %

Shares of Quanta Services stock traded down $3.05 during trading on Wednesday, reaching $305.62. 134,468 shares of the company were exchanged, compared to its average volume of 904,886. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $312.52. The business has a 50-day moving average price of $272.51 and a 200-day moving average price of $266.31. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $44.74 billion, a price-to-earnings ratio of 59.82 and a beta of 1.01.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 earnings per share (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 analysts’ expectations 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 quarter in the previous year, the company earned $1.47 earnings per share. Sell-side analysts anticipate that Quanta Services, Inc. will post 7.82 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st will be paid a $0.09 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.12%. Quanta Services’s payout ratio is 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.