Quanta Services, Inc. (NYSE:PWR) Shares Acquired by MGO One Seven LLC

MGO One Seven LLC lifted its position in Quanta Services, Inc. (NYSE:PWR) by 227.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,004 shares of the construction company’s stock after purchasing an additional 2,782 shares during the period. MGO One Seven LLC’s holdings in Quanta Services were worth $1,017,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. raised its position in shares of Quanta Services by 20.5% in the second quarter. Westside Investment Management Inc. now owns 241 shares of the construction company’s stock worth $61,000 after acquiring an additional 41 shares during the period. Ameritas Advisory Services LLC increased its stake in shares of Quanta Services by 5.0% in the 2nd quarter. Ameritas Advisory Services LLC now owns 876 shares of the construction company’s stock valued at $223,000 after purchasing an additional 42 shares in the last quarter. Aspen Investment Management Inc raised its holdings in Quanta Services by 3.7% in the 2nd quarter. Aspen Investment Management Inc now owns 1,254 shares of the construction company’s stock worth $319,000 after purchasing an additional 45 shares during the period. Terra Nova Asset Management LLC boosted its position 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 worth $3,237,000 after purchasing an additional 46 shares in the last quarter. Finally, Wedmont Private Capital grew its holdings in Quanta Services by 1.0% in the first quarter. Wedmont Private Capital now owns 4,674 shares of the construction company’s stock valued at $1,198,000 after purchasing an additional 47 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction dated 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 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 through this hyperlink. In related news, insider Karl W. Studer sold 23,357 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the completion of the transaction, the insider now directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the sale, the chief executive officer now owns 593,402 shares in the company, valued at $155,595,938.42. The disclosure for this sale can be found here. Insiders have 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.

Quanta Services Stock Up 0.4 %

Shares of NYSE:PWR opened at $269.54 on Friday. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $286.87. 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 business has a fifty day moving average of $259.87 and a two-hundred day moving average of $259.84. The stock has a market cap of $39.71 billion, a P/E ratio of 52.24 and a beta of 1.01.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 3.59% and a return on equity of 16.29%. Quanta Services’s revenue was up 10.8% compared to the same quarter last year. During the same period last year, the business earned $1.47 earnings per share. On average, research analysts expect that Quanta Services, Inc. will post 7.82 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be given a $0.09 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $0.36 annualized dividend and a yield of 0.13%. Quanta Services’s payout ratio is 6.98%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PWR. Robert W. Baird increased their target price on Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Citigroup increased their price objective on shares of 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 target price (up previously from $305.00) on shares of Quanta Services in a research note on Monday, August 5th. Argus lifted their price objective on Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Finally, TD Cowen increased 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. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $284.50.

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.