Electron Capital Partners LLC Increases Stock Position in Quanta Services, Inc. (NYSE:PWR)

Electron Capital Partners LLC boosted its stake in Quanta Services, Inc. (NYSE:PWR) by 395.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,622,142 shares of the construction company’s stock after purchasing an additional 2,092,519 shares during the quarter. Quanta Services comprises 15.0% of Electron Capital Partners LLC’s investment portfolio, making the stock its 2nd biggest position. Electron Capital Partners LLC’s holdings in Quanta Services were worth $666,260,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Nomura Holdings Inc. bought a new stake in Quanta Services during the fourth quarter valued at $631,000. Wellington Management Group LLP lifted its position in Quanta Services by 581.3% in the 4th quarter. Wellington Management Group LLP now owns 117,014 shares of the construction company’s stock valued at $25,252,000 after acquiring an additional 99,840 shares in the last quarter. Vanguard Group Inc. grew its holdings in Quanta Services by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 16,235,875 shares of the construction company’s stock worth $3,503,702,000 after buying an additional 191,334 shares in the last quarter. Allen Investment Management LLC raised its position in Quanta Services by 1,418.0% in the 1st quarter. Allen Investment Management LLC now owns 33,396 shares of the construction company’s stock valued at $8,676,000 after buying an additional 31,196 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its stake in Quanta Services by 20,298.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,057,681 shares of the construction company’s stock valued at $228,248,000 after acquiring an additional 1,052,496 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PWR. Truist Financial restated a “buy” rating and issued a $319.00 target price (up from $305.00) on shares of Quanta Services in a research note on Monday, August 5th. Robert W. Baird raised their price objective on shares of Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Citigroup lifted their price target on Quanta Services from $299.00 to $302.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. TD Cowen raised their price objective 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. Finally, Wolfe Research started coverage on shares of Quanta Services in a report on Thursday, September 19th. They set an “outperform” rating and a $313.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $286.69.

Insider Activity at Quanta Services

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 value of $34,087,300.00. Following the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. In other Quanta Services news, 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 transaction of $6,318,302.07. Following the completion of the transaction, 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 Securities & Exchange Commission, which is accessible through this link. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the completion of the transaction, the chief executive officer now directly owns 593,402 shares of the company’s stock, valued at approximately $155,595,938.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 202,357 shares of company stock worth $53,115,572. 1.10% of the stock is owned by insiders.

Quanta Services Stock Down 0.1 %

NYSE:PWR opened at $297.94 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. The firm’s 50-day moving average price is $264.78 and its 200-day moving average price is $262.72. The company has a market capitalization of $43.61 billion, a PE ratio of 57.74 and a beta of 1.01. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $302.24.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data 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 company had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. Quanta Services’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.47 EPS. On average, equities analysts predict that Quanta Services, Inc. will post 7.82 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business also recently disclosed 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 0.12%. Quanta Services’s dividend payout ratio (DPR) is 6.98%.

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.