Pacer Advisors Inc. Acquires 102 Shares of Quanta Services, Inc. (NYSE:PWR)

Pacer Advisors Inc. lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 0.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,378 shares of the construction company’s stock after acquiring an additional 102 shares during the quarter. Pacer Advisors Inc.’s holdings in Quanta Services were worth $2,891,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PWR shares. B. Riley increased their price objective on Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. TD Cowen increased their price objective on Quanta Services from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Robert W. Baird increased their price objective on Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Northland Securities raised their price target on Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, Wolfe Research initiated coverage on Quanta Services in a report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price target for the company. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $286.69.

Quanta Services Trading Down 0.1 %

Quanta Services stock opened at $297.94 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $302.24. The stock has a market capitalization of $43.61 billion, a PE ratio of 57.74 and a beta of 1.01. The business’s fifty day moving average is $264.78 and its 200 day moving average is $262.72.

Quanta Services (NYSE:PWR) last announced its earnings results 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 business had revenue of $5.59 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the firm posted $1.47 earnings per share. On average, sell-side analysts predict that Quanta Services, Inc. will post 7.82 EPS for the current year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st will be given a $0.09 dividend. 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 6.98%.

Insiders Place Their Bets

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’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 transaction, the insider now directly 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 at the SEC website. In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’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 transaction, the insider now directly 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 at the SEC website. Also, COO James Redgie Probst sold 34,000 shares of Quanta Services stock in a transaction dated 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 transaction, the chief operating officer now directly owns 29,002 shares in the company, valued at $7,541,390.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 202,357 shares of company stock valued at $53,115,572. Insiders own 1.10% of the company’s stock.

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.