Dimensional Fund Advisors LP Trims Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Dimensional Fund Advisors LP lessened its position in shares of Quanta Services, Inc. (NYSE:PWR) by 4.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 915,629 shares of the construction company’s stock after selling 40,542 shares during the quarter. Dimensional Fund Advisors LP owned 0.63% of Quanta Services worth $232,769,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PWR. Westside Investment Management Inc. increased its holdings in Quanta Services by 20.5% in the 2nd quarter. Westside Investment Management Inc. now owns 241 shares of the construction company’s stock worth $61,000 after buying an additional 41 shares during the period. Ameritas Advisory Services LLC increased its stake in shares of Quanta Services by 5.0% in the second quarter. Ameritas Advisory Services LLC now owns 876 shares of the construction company’s stock worth $223,000 after acquiring an additional 42 shares during the period. Aspen Investment Management Inc raised its holdings in shares of Quanta Services by 3.7% during the second quarter. Aspen Investment Management Inc now owns 1,254 shares of the construction company’s stock worth $319,000 after purchasing an additional 45 shares during the last quarter. Terra Nova Asset Management LLC lifted its position in Quanta Services by 0.4% during the second 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 during the period. Finally, Wedmont Private Capital boosted its holdings in Quanta Services by 1.0% in the first quarter. Wedmont Private Capital now owns 4,674 shares of the construction company’s stock valued at $1,198,000 after purchasing an additional 47 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Quanta Services

In other news, COO James Redgie Probst sold 34,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the transaction, the chief operating officer now owns 29,002 shares of the company’s stock, valued at approximately $7,541,390.06. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction on Friday, August 9th. The stock was sold at an average price of $257.93, for a total value of $3,868,950.00. Following the sale, the insider now owns 21,286 shares in the company, valued at $5,490,297.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO James Redgie Probst sold 34,000 shares of the company’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 completion of the transaction, the chief operating officer now directly owns 29,002 shares in the company, valued at approximately $7,541,390.06. The disclosure for this sale can be found here. Insiders sold a total of 202,357 shares of company stock worth $53,115,572 in the last three months. 1.10% of the stock is owned by corporate insiders.

Quanta Services Trading Down 0.7 %

Shares of PWR opened at $272.06 on Thursday. The firm’s fifty day moving average is $261.22 and its two-hundred day moving average is $260.89. The stock has a market cap of $40.08 billion, a PE ratio of 52.72 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, Inc. has a 52-week low of $153.74 and a 52-week high of $286.87.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the company earned $1.47 EPS. Quanta Services’s revenue was up 10.8% compared to the same quarter last year. Research analysts forecast that Quanta Services, Inc. will post 7.82 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

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 paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date is Tuesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is currently 6.98%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Argus boosted their price objective on Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, May 30th. The Goldman Sachs Group upped their price objective on Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Northland Securities lifted their target price 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. Citigroup increased their price target on shares of Quanta Services from $299.00 to $302.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, Truist Financial reaffirmed a “buy” rating and issued a $319.00 price objective (up previously from $305.00) on shares of Quanta Services in a report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and an average price target of $284.50.

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.