Choreo LLC Has $2.10 Million Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Choreo LLC raised its position in Quanta Services, Inc. (NYSE:PWR) by 108.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,436 shares of the construction company’s stock after purchasing an additional 4,387 shares during the quarter. Choreo LLC’s holdings in Quanta Services were worth $2,096,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Artisan Partners Limited Partnership increased its holdings 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 buying an additional 1,935,786 shares during the last quarter. Norges Bank bought a new stake in Quanta Services in the fourth quarter worth $335,777,000. Public Employees Retirement Association of Colorado raised its holdings in Quanta Services by 20,298.9% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,057,681 shares of the construction company’s stock valued at $228,248,000 after buying an additional 1,052,496 shares in the last quarter. Swedbank AB acquired a new stake in shares of Quanta Services in the first quarter worth about $227,218,000. Finally, Capital World Investors lifted its position in shares of Quanta Services by 10.7% in the first quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock worth $1,726,042,000 after buying an additional 643,011 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Down 0.0 %

Shares of PWR opened at $250.03 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $259.42 and a two-hundred day moving average price of $259.75. The stock has a market cap of $36.84 billion, a price-to-earnings ratio of 48.46 and a beta of 1.01. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $286.87.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, August 1st. The construction company reported $1.90 EPS 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 business had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter last year, the company earned $1.47 EPS. Quanta Services’s revenue was up 10.8% on a year-over-year basis. Equities analysts predict that Quanta Services, Inc. will post 7.8 EPS 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 given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date is Tuesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is currently 6.98%.

Wall Street Analysts Forecast Growth

PWR has been the subject of several recent analyst reports. Argus upped their price objective on shares of Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Citigroup raised 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. The Goldman Sachs Group boosted their price objective on Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. TD Cowen raised their target price on Quanta Services from $270.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, Truist Financial reiterated a “buy” rating and set a $319.00 price target (up from $305.00) on shares of Quanta Services in a report on Monday, August 5th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $284.50.

Insider Buying and Selling at Quanta Services

In other news, insider Karl W. Studer sold 23,357 shares of the firm’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 transaction 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 $2,875,791.81. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the business’s 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 $155,595,938.42. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 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 $2,875,791.81. The disclosure for this sale can be found here. Insiders have sold a total of 202,357 shares of company stock worth $53,115,572 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

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.