Intech Investment Management LLC Has $4.04 Million Stock Position in Quanta Services, Inc. (NYSE:PWR)

Intech Investment Management LLC increased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 81.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,915 shares of the construction company’s stock after acquiring an additional 7,165 shares during the quarter. Intech Investment Management LLC’s holdings in Quanta Services were worth $4,044,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Westside Investment Management Inc. boosted its stake in Quanta Services by 20.5% in the second quarter. Westside Investment Management Inc. now owns 241 shares of the construction company’s stock valued at $61,000 after acquiring an additional 41 shares during the last quarter. Ameritas Advisory Services LLC grew its stake in shares of Quanta Services by 5.0% during the second quarter. Ameritas Advisory Services LLC now owns 876 shares of the construction company’s stock worth $223,000 after purchasing an additional 42 shares during the period. Aspen Investment Management Inc increased its holdings in Quanta Services by 3.7% in the second quarter. Aspen Investment Management Inc now owns 1,254 shares of the construction company’s stock valued at $319,000 after purchasing an additional 45 shares during the last quarter. Terra Nova Asset Management LLC lifted its stake in Quanta Services by 0.4% in the second quarter. Terra Nova Asset Management LLC now owns 12,741 shares of the construction company’s stock valued at $3,237,000 after buying an additional 46 shares during the period. Finally, Wedmont Private Capital boosted its holdings in Quanta Services by 1.0% during the first quarter. Wedmont Private Capital now owns 4,674 shares of the construction company’s stock worth $1,198,000 after buying an additional 47 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Insider Activity at Quanta Services

In related news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 10,631 shares of the company’s stock, valued at $2,875,791.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 10,631 shares in the company, valued at approximately $2,875,791.81. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO James Redgie Probst sold 34,000 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the completion of the transaction, the chief operating officer now directly owns 29,002 shares of the company’s stock, valued at $7,541,390.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PWR shares. B. Riley upped their price target on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Truist Financial reiterated a “buy” rating and issued a $319.00 target price (up from $305.00) on shares of Quanta Services in a report on Monday, August 5th. Northland Securities boosted 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. Jefferies Financial Group started coverage on Quanta Services in a research note on Wednesday, September 4th. They set a “hold” rating and a $256.00 price objective on the stock. Finally, TD Cowen boosted their target price on Quanta Services from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and an average price target of $286.69.

Quanta Services Stock Up 0.4 %

Shares of Quanta Services stock opened at $290.89 on Friday. The firm has a market cap of $42.58 billion, a PE ratio of 56.37 and a beta of 1.01. The business’s 50 day simple moving average is $262.17 and its 200 day simple moving average is $261.57. 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, Inc. has a 52-week low of $153.74 and a 52-week high of $293.80.

Quanta Services (NYSE:PWR) last posted 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 company had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The firm’s revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company earned $1.47 earnings per share. On average, analysts predict that Quanta Services, Inc. will post 7.82 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business 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. This represents a $0.36 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend is Tuesday, October 1st. 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.