Sanctuary Advisors LLC Invests $10.18 Million in Quanta Services, Inc. (NYSE:PWR)

Sanctuary Advisors LLC bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 38,916 shares of the construction company’s stock, valued at approximately $10,183,000.

A number of other large investors have also recently added to or reduced their stakes in the business. EP Wealth Advisors LLC lifted its position in shares of Quanta Services by 0.6% during the 2nd quarter. EP Wealth Advisors LLC now owns 6,994 shares of the construction company’s stock valued at $1,777,000 after acquiring an additional 39 shares during the last quarter. Westside Investment Management Inc. boosted its position in shares of Quanta Services by 20.5% in the 2nd quarter. Westside Investment Management Inc. now owns 241 shares of the construction company’s stock valued at $61,000 after purchasing an additional 41 shares during the period. Ameritas Advisory Services LLC increased its stake in Quanta Services by 5.0% in the 2nd quarter. Ameritas Advisory Services LLC now owns 876 shares of the construction company’s stock worth $223,000 after purchasing an additional 42 shares in the last quarter. Aspen Investment Management Inc lifted its stake in Quanta Services by 3.7% during the second quarter. Aspen Investment Management Inc now owns 1,254 shares of the construction company’s stock valued at $319,000 after buying an additional 45 shares in the last quarter. Finally, Terra Nova Asset Management LLC lifted its stake in Quanta Services by 0.4% during 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 in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction dated 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 directly owns 10,631 shares in the company, valued at $2,875,791.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the firm’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 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 this link. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 21,286 shares of the company’s stock, valued at $5,490,297.98. 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 quarter. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on PWR shares. Northland Securities upped their price target on shares of Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Citigroup increased their target price on Quanta Services from $299.00 to $302.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Truist Financial reissued a “buy” rating and set a $319.00 price target (up from $305.00) on shares of Quanta Services in a research report on Monday, August 5th. TD Cowen raised their price objective on Quanta Services from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Jefferies Financial Group initiated coverage on Quanta Services in a report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $286.69.

Quanta Services Trading Down 0.2 %

Quanta Services stock opened at $298.40 on Friday. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $306.50. The company’s fifty day moving average price is $268.37 and its two-hundred day moving average price is $264.67. The company has a market capitalization of $43.96 billion, a price-to-earnings ratio of 57.83 and a beta of 1.01. 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 (NYSE:PWR) last posted its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share 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 analyst estimates of $5.51 billion. During the same period in the previous year, the company earned $1.47 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, analysts forecast that Quanta Services, Inc. will post 7.82 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.36 annualized dividend and a yield of 0.12%. Quanta Services’s dividend payout ratio (DPR) is presently 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.