Quanta Services, Inc. (NYSE:PWR) Stake Reduced by Huber Capital Management LLC

Huber Capital Management LLC cut its position in Quanta Services, Inc. (NYSE:PWR) by 3.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,928 shares of the construction company’s stock after selling 69 shares during the quarter. Huber Capital Management LLC’s holdings in Quanta Services were worth $490,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. EntryPoint Capital LLC bought a new position in shares of Quanta Services in the first quarter worth $25,000. Private Ocean LLC bought a new stake in Quanta Services during the first quarter worth approximately $26,000. Salomon & Ludwin LLC acquired a new stake in Quanta Services in the first quarter worth approximately $26,000. Cambridge Trust Co. bought a new position in Quanta Services during the 1st quarter valued at $26,000. Finally, Valley Wealth Managers Inc. acquired a new position in shares of Quanta Services during the 2nd quarter valued at $33,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 0.4 %

Shares of NYSE:PWR opened at $290.89 on Friday. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $293.80. 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 firm has a market capitalization of $42.58 billion, a P/E ratio of 56.37 and a beta of 1.01. The firm has a fifty day moving average of $262.17 and a two-hundred day moving average of $261.42.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The firm had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the previous year, the company posted $1.47 earnings per share. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, equities analysts expect that Quanta Services, Inc. will post 7.82 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. Investors of record on Tuesday, October 1st will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend is Tuesday, October 1st. Quanta Services’s payout ratio is presently 6.98%.

Wall Street Analysts Forecast Growth

PWR has been the subject of several research reports. Truist Financial reaffirmed a “buy” rating and set a $319.00 target price (up previously from $305.00) on shares of Quanta Services in a research note on Monday, August 5th. Argus boosted their target price on shares of Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. B. Riley raised their price objective on Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Wolfe Research began coverage on Quanta Services in a research report on Thursday. They set an “outperform” rating and a $313.00 target price on the stock. Finally, Robert W. Baird raised their target price 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. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and an average target price of $286.69.

Insider Buying and Selling

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 21,286 shares of the company’s stock, valued at $5,490,297.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Karl W. Studer sold 23,357 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,875,791.81. The transaction was disclosed in a legal 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 firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 21,286 shares in the company, valued at approximately $5,490,297.98. The disclosure for this sale can be found here. Over the last three months, insiders sold 202,357 shares of company stock worth $53,115,572. Corporate insiders own 1.10% of the company’s stock.

Quanta Services 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.