One Capital Management LLC Makes New $325,000 Investment in Quanta Services, Inc. (NYSE:PWR)

One Capital Management LLC purchased a new position in Quanta Services, Inc. (NYSE:PWR) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,278 shares of the construction company’s stock, valued at approximately $325,000.

Several other institutional investors have also modified their holdings of PWR. Aveo Capital Partners LLC grew its stake in shares of Quanta Services by 11.0% in the fourth quarter. Aveo Capital Partners LLC now owns 1,313 shares of the construction company’s stock worth $283,000 after acquiring an additional 130 shares in the last quarter. Brown Advisory Inc. grew its stake in shares of Quanta Services by 2.2% in the fourth quarter. Brown Advisory Inc. now owns 43,796 shares of the construction company’s stock worth $9,451,000 after acquiring an additional 952 shares in the last quarter. Norges Bank acquired a new position in shares of Quanta Services during the fourth quarter worth $335,777,000. Balentine LLC acquired a new position in shares of Quanta Services during the fourth quarter worth $201,000. Finally, Wells Fargo & Company MN grew its stake in shares of Quanta Services by 19.8% during the fourth quarter. Wells Fargo & Company MN now owns 174,907 shares of the construction company’s stock worth $37,745,000 after purchasing an additional 28,874 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Trading Up 0.9 %

Shares of PWR opened at $273.92 on Wednesday. The firm’s 50-day moving average is $260.55 and its two-hundred day moving average is $260.58. The firm has a market capitalization of $40.36 billion, a P/E ratio of 53.09 and a beta of 1.01. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $286.87. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.45.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.75 by $0.15. The business had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The company’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.47 earnings per share. On average, research analysts predict that Quanta Services, Inc. will post 7.82 earnings per share 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. The ex-dividend date is Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.13%. Quanta Services’s dividend payout ratio (DPR) is currently 6.98%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They set a “hold” rating and a $256.00 target price for the company. Truist Financial reissued a “buy” rating and issued a $319.00 price target (up from $305.00) on shares of Quanta Services in a research report on Monday, August 5th. TD Cowen boosted 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. Citigroup boosted their price target on shares of Quanta Services from $299.00 to $302.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, Argus boosted their price target on shares of Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $284.50.

Insider Buying and Selling

In related news, COO James Redgie Probst sold 34,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the sale, the chief operating officer now owns 29,002 shares in the company, valued at $7,541,390.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the 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 transaction, 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 accessible through the SEC website. Also, COO James Redgie Probst sold 34,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the transaction, the chief operating officer now directly owns 29,002 shares in the company, valued at approximately $7,541,390.06. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 202,357 shares of company stock worth $53,115,572. 1.10% of the stock is owned by 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.