Quarry LP Buys Shares of 615 Quanta Services, Inc. (NYSE:PWR)

Quarry LP bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 615 shares of the construction company’s stock, valued at approximately $156,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. EntryPoint Capital LLC acquired a new position in shares of Quanta Services during the first quarter valued at $25,000. Private Ocean LLC acquired a new position in shares of Quanta Services during the first quarter valued at $26,000. Salomon & Ludwin LLC acquired a new position in shares of Quanta Services during the first quarter valued at $26,000. Cambridge Trust Co. acquired a new position in shares of Quanta Services during the first quarter valued at $26,000. Finally, Valley Wealth Managers Inc. acquired a new position in shares of Quanta Services during the second quarter valued at $33,000. Institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Truist Financial reissued a “buy” rating and set a $319.00 price target (up previously from $305.00) on shares of Quanta Services in a report on Monday, August 5th. Northland Securities upped their price objective on shares of Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. B. Riley upped their price objective on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Wolfe Research started coverage on shares of Quanta Services in a report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price objective for the company. Finally, TD Cowen upped their price objective on shares of Quanta Services from $270.00 to $280.00 and gave the stock a “buy” rating in a 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 stock. According to MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and an average target price of $286.69.

Insiders Place Their Bets

In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the business’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 in the company, valued at approximately $155,595,938.42. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the company’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 in the company, valued at approximately $155,595,938.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $257.93, for a total value of $3,868,950.00. Following the completion of the transaction, the insider now owns 21,286 shares in the company, valued at approximately $5,490,297.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 202,357 shares of company stock worth $53,115,572. Company insiders own 1.10% of the company’s stock.

Quanta Services Price Performance

NYSE PWR opened at $298.15 on Tuesday. The stock’s 50-day moving average price is $266.79 and its two-hundred day moving average price is $264.05. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.45. The company has a market cap of $43.65 billion, a PE ratio of 57.78 and a beta of 1.01. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $306.50.

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

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.36 annualized dividend and a yield of 0.12%. Quanta Services’s payout ratio is presently 6.98%.

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.