Rathbones Group PLC Increases Stake in Quanta Services, Inc. (NYSE:PWR)

Rathbones Group PLC boosted its stake in Quanta Services, Inc. (NYSE:PWR) by 198.3% in the second quarter, Holdings Channel.com reports. The firm owned 7,038 shares of the construction company’s stock after acquiring an additional 4,679 shares during the quarter. Rathbones Group PLC’s holdings in Quanta Services were worth $1,788,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PWR. Vanguard Group Inc. raised its holdings in shares of Quanta Services by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock worth $4,245,452,000 after purchasing an additional 105,355 shares during the period. JPMorgan Chase & Co. lifted its position in Quanta Services by 2.4% during the first quarter. JPMorgan Chase & Co. now owns 6,760,260 shares of the construction company’s stock valued at $1,756,316,000 after buying an additional 156,627 shares in the last quarter. Capital World Investors grew its stake in Quanta Services by 10.7% during 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 period. Artisan Partners Limited Partnership increased its position in shares of 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 acquiring an additional 1,935,786 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Quanta Services in the 4th quarter valued at $335,777,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Price Performance

PWR opened at $271.59 on Tuesday. The company has a market capitalization of $40.01 billion, a P/E ratio of 52.63 and a beta of 1.01. The company has a 50-day moving average of $260.21 and a 200-day moving average of $260.37. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $286.87.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, beating 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 earnings per share. Quanta Services’s quarterly revenue was up 10.8% on a year-over-year basis. Equities analysts expect that Quanta Services, Inc. will post 7.82 EPS for the current fiscal year.

Quanta Services Dividend Announcement

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

Insiders Place Their Bets

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the sale, the insider now directly owns 21,286 shares of the company’s stock, valued at $5,490,297.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, 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 transaction of $3,868,950.00. Following the completion of the transaction, the insider now directly owns 21,286 shares of the company’s stock, valued at $5,490,297.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 stock was 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 directly 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 a total of 202,357 shares of company stock valued at $53,115,572 over the last 90 days. 1.10% of the stock is owned by company insiders.

Analyst Ratings Changes

PWR has been the subject of several recent research reports. The Goldman Sachs Group increased their price target on Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Jefferies Financial Group began coverage on Quanta Services in a report on Wednesday, September 4th. They set a “hold” rating and a $256.00 target price on the stock. TD Cowen upped their price target on Quanta Services from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Northland Securities lifted their price objective on shares of Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, Citigroup upped their target price 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. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, 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.