Sei Investments Co. Has $99.24 Million Stock Position in Quanta Services, Inc. (NYSE:PWR)

Sei Investments Co. raised its holdings in Quanta Services, Inc. (NYSE:PWR) by 1.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 390,569 shares of the construction company’s stock after buying an additional 6,552 shares during the quarter. Sei Investments Co. owned 0.27% of Quanta Services worth $99,239,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nomura Holdings Inc. bought a new position in Quanta Services during the fourth quarter worth $631,000. Wellington Management Group LLP boosted its position in shares of Quanta Services by 581.3% during the 4th quarter. Wellington Management Group LLP now owns 117,014 shares of the construction company’s stock worth $25,252,000 after purchasing an additional 99,840 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Quanta Services by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 16,235,875 shares of the construction company’s stock valued at $3,503,702,000 after buying an additional 191,334 shares during the period. Allen Investment Management LLC increased its position in Quanta Services by 1,418.0% in the 1st quarter. Allen Investment Management LLC now owns 33,396 shares of the construction company’s stock valued at $8,676,000 after buying an additional 31,196 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado raised its stake in 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 worth $228,248,000 after buying an additional 1,052,496 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. The Goldman Sachs Group boosted 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. Robert W. Baird upped their price objective on shares of Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Truist Financial reiterated a “buy” rating and set a $319.00 price objective (up from $305.00) on shares of Quanta Services in a report on Monday, August 5th. Northland Securities upped their target price on shares of Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, B. Riley lifted 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. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $286.69.

Quanta Services Stock Performance

Shares of PWR opened at $290.89 on Friday. The stock has a 50 day moving average of $262.17 and a 200 day moving average of $261.57. The company has a market capitalization of $42.58 billion, a price-to-earnings 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. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.45.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 16.29% and a net margin of 3.59%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same period last year, the firm posted $1.47 EPS. As a group, sell-side analysts forecast that Quanta Services, Inc. will post 7.82 earnings per share for the current year.

Quanta Services Dividend Announcement

The business 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. This represents a $0.36 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend is Tuesday, October 1st. Quanta Services’s payout ratio is 6.98%.

Insider Activity

In related 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 value of $6,318,302.07. Following the transaction, the insider now owns 10,631 shares in the company, valued at $2,875,791.81. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the sale, the insider now directly owns 10,631 shares in the company, valued at $2,875,791.81. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 593,402 shares of the company’s stock, valued at approximately $155,595,938.42. The disclosure for this sale can be found here. Insiders sold 202,357 shares of company stock valued at $53,115,572 in the last three months. Company insiders own 1.10% of the company’s stock.

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.