Axxcess Wealth Management LLC Grows Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Axxcess Wealth Management LLC increased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 98.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,892 shares of the construction company’s stock after buying an additional 938 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Quanta Services were worth $481,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PWR. EntryPoint Capital LLC purchased a new position in shares of Quanta Services during the first quarter worth about $25,000. Private Ocean LLC purchased a new position in shares of Quanta Services during the first quarter worth about $26,000. Salomon & Ludwin LLC purchased a new stake in Quanta Services in the 1st quarter valued at approximately $26,000. Cambridge Trust Co. purchased a new stake in Quanta Services in the 1st quarter valued at approximately $26,000. Finally, Valley Wealth Managers Inc. purchased a new stake in Quanta Services in the 2nd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PWR shares. TD Cowen lifted their price objective on Quanta Services from $270.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, August 8th. The Goldman Sachs Group lifted their price objective on Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. B. Riley lifted their price objective on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Robert W. Baird lifted their price objective on Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Finally, Wolfe Research began coverage on Quanta Services in a research note on Thursday. They set an “outperform” rating and a $313.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $286.69.

Quanta Services Trading Up 0.4 %

Shares of Quanta Services stock opened at $290.89 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $293.80. The company has a market capitalization of $42.58 billion, a P/E ratio of 56.37 and a beta of 1.01. The business has a 50 day moving average price of $262.17 and a 200 day moving average price of $261.42.

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, topping 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 the consensus estimate of $5.51 billion. During the same period in the previous year, the firm posted $1.47 EPS. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. Sell-side analysts anticipate that Quanta Services, Inc. will post 7.82 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.36 annualized dividend and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio is currently 6.98%.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 21,286 shares in the company, valued at approximately $5,490,297.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 21,286 shares in the company, valued at approximately $5,490,297.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 completion of the transaction, the chief executive officer now owns 593,402 shares of the company’s stock, valued at $155,595,938.42. The disclosure for this sale can be found here. In the last three months, insiders sold 202,357 shares of company stock worth $53,115,572. Insiders own 1.10% of the company’s stock.

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.