Massachusetts Financial Services Co. MA Purchases 186,306 Shares of Quanta Services, Inc. (NYSE:PWR)

Massachusetts Financial Services Co. MA lifted its position in Quanta Services, Inc. (NYSE:PWR) by 17.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,235,655 shares of the construction company’s stock after acquiring an additional 186,306 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.84% of Quanta Services worth $313,968,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PWR. EntryPoint Capital LLC bought a new stake in shares of Quanta Services in the 1st quarter worth $25,000. Private Ocean LLC bought a new position in Quanta Services during the first quarter valued at about $26,000. Salomon & Ludwin LLC bought a new position in Quanta Services during the first quarter valued at about $26,000. Cambridge Trust Co. bought a new position in Quanta Services during the first quarter valued at about $26,000. Finally, Valley Wealth Managers Inc. bought a new position in Quanta Services during the second quarter valued at about $33,000. Institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PWR. TD Cowen increased their price target on shares of Quanta Services from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. The Goldman Sachs Group increased their price target on shares of Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Robert W. Baird increased their price target on shares of Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Northland Securities increased 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. Finally, B. Riley increased their target price on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and a consensus target price of $284.50.

Quanta Services Trading Up 0.8 %

Shares of Quanta Services stock opened at $271.59 on Tuesday. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $286.87. The company has a market cap of $40.01 billion, a price-to-earnings ratio of 52.63 and a beta of 1.01. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.45. The company’s 50-day moving average price is $260.21 and its 200-day moving average price is $260.37.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The firm had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the prior year, the firm posted $1.47 earnings per share. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities analysts expect that Quanta Services, Inc. will post 7.82 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date of this dividend is Tuesday, October 1st. Quanta Services’s payout ratio is 6.98%.

Insider Transactions at Quanta Services

In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total value of $34,087,300.00. Following the sale, the chief executive officer now directly owns 593,402 shares of the company’s stock, valued at $155,595,938.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total value of $34,087,300.00. Following the sale, the chief executive officer now directly owns 593,402 shares of the company’s stock, valued at $155,595,938.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 directly owns 10,631 shares in the company, valued at $2,875,791.81. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is currently owned by corporate insiders.

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.