Larson Financial Group LLC Purchases 294 Shares of Quanta Services, Inc. (NYSE:PWR)

Larson Financial Group LLC grew its position in Quanta Services, Inc. (NYSE:PWR) by 94.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 605 shares of the construction company’s stock after acquiring an additional 294 shares during the period. Larson Financial Group LLC’s holdings in Quanta Services were worth $154,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of PWR. Artisan Partners Limited Partnership boosted its stake in Quanta Services by 384.9% in the fourth 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 in the last quarter. Norges Bank bought a new position in shares of Quanta Services in the fourth quarter valued at about $335,777,000. Public Employees Retirement Association of Colorado lifted its position 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 in the last quarter. Swedbank AB bought a new stake in Quanta Services during the 1st quarter worth about $227,218,000. Finally, Capital World Investors increased its position in Quanta Services by 10.7% in the 1st quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock valued at $1,726,042,000 after acquiring an additional 643,011 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Trading Down 1.4 %

Shares of NYSE PWR opened at $247.92 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $286.87. The company’s fifty day moving average is $259.33 and its 200-day moving average is $259.18. The stock has a market cap of $36.29 billion, a price-to-earnings ratio of 48.05 and a beta of 1.01.

Quanta Services (NYSE:PWR) last posted its earnings results 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 firm had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The company’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.47 earnings per share. Equities research analysts predict that Quanta Services, Inc. will post 7.78 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently declared 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 0.15%. The ex-dividend date of this dividend is Tuesday, October 1st. Quanta Services’s payout ratio is currently 6.98%.

Insider Activity

In related news, insider Karl W. Studer sold 23,357 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction 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 document filed with the SEC, which is available at this hyperlink. In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the completion of the transaction, the insider now directly owns 21,286 shares in the company, valued at $5,490,297.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Karl W. Studer sold 23,357 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $2,875,791.81. The disclosure for this sale can be found here. Insiders sold 202,357 shares of company stock worth $53,115,572 over the last quarter. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PWR has been the topic of several research analyst reports. Citigroup increased their price target on shares of Quanta Services from $299.00 to $302.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Robert W. Baird lifted their target price on Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. TD Cowen upped their price target on Quanta Services from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Truist Financial reiterated a “buy” rating and issued a $319.00 price objective (up from $305.00) on shares of Quanta Services in a research report on Monday, August 5th. Finally, Northland Securities upped their target price 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. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $284.50.

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.