Ieq Capital LLC Acquires 985 Shares of Quanta Services, Inc. (NYSE:PWR)

Ieq Capital LLC increased its holdings in Quanta Services, Inc. (NYSE:PWR) by 9.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,947 shares of the construction company’s stock after buying an additional 985 shares during the period. Ieq Capital LLC’s holdings in Quanta Services were worth $2,782,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. EntryPoint Capital LLC purchased a new position in shares of Quanta Services in the first quarter valued at $25,000. Private Ocean LLC purchased a new position in Quanta Services during the 1st quarter valued at about $26,000. Salomon & Ludwin LLC purchased a new position in Quanta Services during the 1st quarter valued at about $26,000. Cambridge Trust Co. bought a new stake in shares of Quanta Services during the first quarter valued at about $26,000. Finally, Valley Wealth Managers Inc. purchased a new stake in shares of Quanta Services in the second quarter worth about $33,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 0.4 %

Shares of PWR opened at $290.89 on Friday. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $293.80. The firm has a market cap of $42.58 billion, a price-to-earnings ratio of 56.37 and a beta of 1.01. The firm has a 50 day moving average price of $262.17 and a 200-day moving average price of $261.57. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share 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 business had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the previous year, the firm posted $1.47 earnings per share. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, equities research analysts forecast that Quanta Services, Inc. will post 7.82 earnings per share for the current year.

Quanta Services Dividend Announcement

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

Insider Buying and Selling at Quanta Services

In other news, 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 transaction, the insider now owns 21,286 shares in the company, valued at $5,490,297.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 593,402 shares in the company, valued at approximately $155,595,938.42. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business’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 transaction, the insider now directly owns 21,286 shares in the company, valued at $5,490,297.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 202,357 shares of company stock worth $53,115,572. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. The Goldman Sachs Group upped their target price on shares of Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. TD Cowen upped their price target 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. Northland Securities boosted their target price on Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. B. Riley raised their price target on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Truist Financial reissued a “buy” rating and set a $319.00 price objective (up previously from $305.00) on shares of Quanta Services in a report on Monday, August 5th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $286.69.

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.