Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Driehaus Capital Management LLC

Driehaus Capital Management LLC boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 21.9% in the 2nd quarter, Holdings Channel reports. The firm owned 102,771 shares of the construction company’s stock after buying an additional 18,466 shares during the period. Driehaus Capital Management LLC’s holdings in Quanta Services were worth $26,113,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PWR. Electron Capital Partners LLC lifted its stake in Quanta Services by 395.1% during the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after purchasing an additional 2,092,519 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its stake in Quanta Services by 20,298.9% during the fourth 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 purchasing an additional 1,052,496 shares during the last quarter. Swedbank AB acquired a new stake in Quanta Services during the first quarter valued at approximately $227,218,000. Capital World Investors lifted 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 valued at $1,726,042,000 after purchasing an additional 643,011 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Quanta Services by 1,445.3% in the 2nd quarter. American Century Companies Inc. now owns 395,152 shares of the construction company’s stock valued at $100,404,000 after acquiring an additional 369,581 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Quanta Services

In other 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 transaction, the insider now owns 21,286 shares in the company, valued at approximately $5,490,297.98. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, COO James Redgie Probst sold 34,000 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $260.03, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s 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 completion of the transaction, the insider now owns 21,286 shares in the company, valued at $5,490,297.98. The disclosure for this sale can be found here. Insiders have sold a total of 202,357 shares of company stock worth $53,115,572 in the last 90 days. 1.10% of the stock is owned by insiders.

Quanta Services Stock Up 0.1 %

PWR stock opened at $296.74 on Friday. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $306.50. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45. The company has a market cap of $43.72 billion, a price-to-earnings ratio of 57.51 and a beta of 1.01. The company has a 50 day moving average of $266.18 and a two-hundred day moving average of $263.50.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.75 by $0.15. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The company had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the prior year, the business posted $1.47 EPS. Quanta Services’s quarterly revenue was up 10.8% on a year-over-year basis. On average, equities analysts anticipate that Quanta Services, Inc. will post 7.82 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st will be paid a dividend of $0.09 per share. The ex-dividend date is Tuesday, October 1st. This represents a $0.36 annualized dividend and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio (DPR) is 6.98%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Citigroup upped 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. Northland Securities upped their price target 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. Jefferies Financial Group assumed coverage on shares of Quanta Services in a research report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price target for the company. Truist Financial restated a “buy” rating and issued a $319.00 price target (up previously from $305.00) on shares of Quanta Services in a research report on Monday, August 5th. Finally, TD Cowen upped 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. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $286.69.

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.