Mesirow Financial Investment Management Inc. Has $391,000 Stake in Quanta Services, Inc. (NYSE:PWR)

Mesirow Financial Investment Management Inc. trimmed its position in Quanta Services, Inc. (NYSE:PWR) by 4.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,538 shares of the construction company’s stock after selling 66 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Quanta Services were worth $391,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Quanta Services by 0.6% in the first quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock valued at $4,245,452,000 after purchasing an additional 105,355 shares in the last quarter. JPMorgan Chase & Co. grew its position in Quanta Services by 2.4% in 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 acquiring an additional 156,627 shares during the period. Capital World Investors grew its position in Quanta Services by 10.7% in the first 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 during the period. Artisan Partners Limited Partnership grew its position 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 valued at $526,261,000 after acquiring an additional 1,935,786 shares during the period. Finally, Norges Bank bought a new stake in Quanta Services in the fourth quarter valued at $335,777,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Price Performance

Quanta Services stock opened at $273.92 on Wednesday. The business’s 50-day simple moving average is $260.55 and its 200 day simple moving average is $260.58. The stock has a market cap of $40.36 billion, a price-to-earnings ratio of 53.09 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. 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 (NYSE:PWR) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) 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 business had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter last year, the business earned $1.47 earnings per share. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, research analysts anticipate that Quanta Services, Inc. will post 7.82 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend is Tuesday, October 1st. Quanta Services’s payout ratio is 6.98%.

Analysts Set New Price Targets

A number of brokerages have weighed in on PWR. B. Riley upped their price target on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. The Goldman Sachs Group increased their target price on Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Argus increased their target price on Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Truist Financial restated a “buy” rating and set a $319.00 target price (up previously from $305.00) on shares of Quanta Services in a report on Monday, August 5th. Finally, Robert W. Baird increased their target price on Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and a consensus 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 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 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 legal filing with the SEC, which is available at the SEC website. In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’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 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 at the SEC website. Also, 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 value of $6,318,302.07. Following 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. Over the last quarter, insiders have sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is currently owned by company insiders.

About Quanta Services

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.