Kayne Anderson Rudnick Investment Management LLC Has $2.10 Million Stake in Quanta Services, Inc. (NYSE:PWR)

Kayne Anderson Rudnick Investment Management LLC increased its stake in Quanta Services, Inc. (NYSE:PWR) by 323.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,258 shares of the construction company’s stock after purchasing an additional 6,306 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Quanta Services were worth $2,099,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in PWR. Garden State Investment Advisory Services LLC bought a new position in shares of Quanta Services during the second quarter worth about $206,000. Sei Investments Co. boosted its position in Quanta Services by 1.7% during the 2nd quarter. Sei Investments Co. now owns 390,569 shares of the construction company’s stock worth $99,239,000 after acquiring an additional 6,552 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Quanta Services by 0.9% during the 2nd quarter. Pacer Advisors Inc. now owns 11,378 shares of the construction company’s stock worth $2,891,000 after acquiring an additional 102 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Quanta Services by 1.0% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 29,895 shares of the construction company’s stock valued at $7,596,000 after purchasing an additional 303 shares during the last quarter. Finally, Bridges Investment Management Inc. bought a new stake in shares of Quanta Services in the second quarter worth $322,000. Institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PWR shares. Robert W. Baird lifted their price target on shares of Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Citigroup increased their price target on Quanta Services from $299.00 to $302.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Jefferies Financial Group initiated coverage on Quanta Services in a research report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price target on the stock. TD Cowen increased 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. Finally, B. Riley boosted their target price on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Four research 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 stock has an average rating of “Moderate Buy” and a consensus price target of $286.69.

Quanta Services Stock Performance

Shares of PWR stock opened at $295.94 on Tuesday. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $298.18. The company has a market capitalization of $43.32 billion, a price-to-earnings ratio of 57.35 and a beta of 1.01. The company has a 50-day simple moving average of $262.94 and a 200 day simple moving average of $262.08. 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 (NYSE:PWR) last posted its earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, beating the consensus estimate 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 return on equity of 16.29% and a net margin of 3.59%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.47 earnings per share. On average, sell-side analysts predict that Quanta Services, Inc. will post 7.82 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st will be given a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services’s payout ratio is presently 6.98%.

Insider Buying and Selling

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

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.