Rhumbline Advisers Increases Stock Position in Quanta Services, Inc. (NYSE:PWR)

Rhumbline Advisers boosted its stake in Quanta Services, Inc. (NYSE:PWR) by 1.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 326,801 shares of the construction company’s stock after purchasing an additional 3,250 shares during the quarter. Rhumbline Advisers owned about 0.22% of Quanta Services worth $83,037,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PWR. EntryPoint Capital LLC purchased a new stake in Quanta Services in the 1st quarter worth $25,000. Private Ocean LLC purchased a new stake in shares of Quanta Services during the 1st quarter valued at about $26,000. Salomon & Ludwin LLC purchased a new stake in shares of Quanta Services during the 1st quarter valued at about $26,000. Cambridge Trust Co. purchased a new stake in shares of Quanta Services during the 1st quarter valued at about $26,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Quanta Services during the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on PWR shares. DA Davidson upped their target price on shares of Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Evercore ISI upped their price target on shares of Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. The Goldman Sachs Group upped their price target on shares of Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. 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 report on Friday, August 2nd. Finally, 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 report on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and an average target price of $287.09.

Insider Activity

In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction that occurred 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 sale, the insider now owns 21,286 shares of the company’s stock, valued at $5,490,297.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction that occurred 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 sale, the insider now owns 21,286 shares of the company’s stock, valued at $5,490,297.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 sale, the insider now directly owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 202,357 shares of company stock worth $53,115,572. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Price Performance

NYSE PWR opened at $257.59 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30. The firm’s 50 day moving average price is $259.98 and its 200-day moving average price is $258.66. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $286.87. The company has a market cap of $37.71 billion, a PE ratio of 49.92 and a beta of 1.03.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The firm had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the firm earned $1.47 earnings per share. The company’s quarterly revenue was up 10.8% on a year-over-year basis. Sell-side analysts forecast that Quanta Services, Inc. will post 7.78 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio is presently 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.