Quanta Services, Inc. (NYSE:PWR) Shares Sold by Huber Capital Management LLC

Huber Capital Management LLC reduced its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 3.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,928 shares of the construction company’s stock after selling 69 shares during the period. Huber Capital Management LLC’s holdings in Quanta Services were worth $490,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Artisan Partners Limited Partnership boosted its stake in shares of Quanta Services by 384.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock worth $526,261,000 after purchasing an additional 1,935,786 shares during the last quarter. Public Employees Retirement Association of Colorado increased its stake in shares of Quanta Services by 20,298.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,057,681 shares of the construction company’s stock valued at $228,248,000 after acquiring an additional 1,052,496 shares during the last quarter. Swedbank AB purchased a new position in shares of Quanta Services during the 1st quarter worth about $227,218,000. Capital World Investors boosted its position in shares of Quanta Services by 10.7% in the first quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock worth $1,726,042,000 after acquiring an additional 643,011 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Quanta Services by 1,445.3% in the second quarter. American Century Companies Inc. now owns 395,152 shares of the construction company’s stock valued at $100,404,000 after purchasing an additional 369,581 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Truist Financial reiterated a “buy” rating and issued a $319.00 price target (up previously from $305.00) on shares of Quanta Services in a report on Monday, August 5th. Northland Securities boosted their price target on Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. B. Riley raised 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. The Goldman Sachs Group boosted their target price on Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Finally, Argus raised their price target on shares of Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $286.69.

Insiders Place Their Bets

In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s stock in a transaction dated 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 owns 593,402 shares in the company, valued at approximately $155,595,938.42. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total value of $34,087,300.00. Following the completion of the sale, the chief executive officer now directly owns 593,402 shares in the company, valued at approximately $155,595,938.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO James Redgie Probst sold 34,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $260.03, for a total value of $8,841,020.00. Following the transaction, the chief operating officer now owns 29,002 shares in the company, valued at $7,541,390.06. The disclosure for this sale can be found here. Insiders sold a total of 202,357 shares of company stock valued at $53,115,572 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Stock Performance

Shares of PWR stock opened at $290.89 on Friday. The company’s fifty day moving average price is $262.17 and its two-hundred day moving average price is $261.42. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. The firm has a market capitalization of $42.58 billion, a P/E ratio of 56.37 and a beta of 1.01. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $293.80.

Quanta Services (NYSE:PWR) last issued 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. 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 quarter in the prior year, the business posted $1.47 earnings per share. Quanta Services’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, research analysts anticipate that Quanta Services, Inc. will post 7.82 earnings per share 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. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.09 per share. 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 dividend payout ratio (DPR) is 6.98%.

About Quanta Services

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.