Sei Investments Co. Increases Holdings in Quanta Services, Inc. (NYSE:PWR)

Sei Investments Co. increased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 1.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 390,569 shares of the construction company’s stock after purchasing an additional 6,552 shares during the period. Sei Investments Co.’s holdings in Quanta Services were worth $99,239,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Westside Investment Management Inc. lifted its holdings 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 buying an additional 41 shares in the last quarter. Ameritas Advisory Services LLC lifted its stake in Quanta Services by 5.0% in the 2nd quarter. Ameritas Advisory Services LLC now owns 876 shares of the construction company’s stock worth $223,000 after purchasing an additional 42 shares in the last quarter. Aspen Investment Management Inc boosted 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 valued at $319,000 after purchasing an additional 45 shares during the period. Terra Nova Asset Management LLC grew its position in shares of Quanta Services by 0.4% during the 2nd quarter. Terra Nova Asset Management LLC now owns 12,741 shares of the construction company’s stock valued at $3,237,000 after purchasing an additional 46 shares in the last quarter. Finally, Wedmont Private Capital increased its holdings in shares of Quanta Services by 1.0% in the first quarter. Wedmont Private Capital now owns 4,674 shares of the construction company’s stock worth $1,198,000 after purchasing an additional 47 shares during the period. Institutional investors own 90.49% of the company’s stock.

Insider Activity at Quanta Services

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total value of $6,318,302.07. Following the transaction, the insider now owns 10,631 shares in the company, valued at $2,875,791.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 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 owns 10,631 shares in the company, valued at approximately $2,875,791.81. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the business’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 transaction, the chief executive officer now directly owns 593,402 shares in the company, valued at $155,595,938.42. The disclosure for this sale can be found here. Insiders sold 202,357 shares of company stock worth $53,115,572 in the last three months. 1.10% of the stock is owned by insiders.

Quanta Services Stock Performance

NYSE PWR opened at $290.89 on Friday. The company has a 50-day simple moving average of $262.17 and a two-hundred day simple moving average of $261.57. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $293.80. The firm has a market cap of $42.58 billion, a price-to-earnings ratio of 56.37 and a beta of 1.01. 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 issued its earnings results 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. The company had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. Quanta Services’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.47 EPS. On average, equities analysts forecast that Quanta Services, Inc. will post 7.82 EPS for the current year.

Quanta Services Announces Dividend

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 paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.12%. The ex-dividend date is Tuesday, October 1st. Quanta Services’s payout ratio is 6.98%.

Analyst Upgrades and Downgrades

Several research firms recently commented on PWR. Jefferies Financial Group initiated coverage on Quanta Services in a research report on Wednesday, September 4th. They set a “hold” rating and a $256.00 target price for the company. Wolfe Research assumed coverage on shares of Quanta Services in a research report on Thursday. They issued an “outperform” rating and a $313.00 price objective on the stock. Robert W. Baird raised their target price on shares of Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. The Goldman Sachs Group boosted their price target on shares of Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Finally, Northland Securities raised their price objective 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. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $286.69.

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.