Daymark Wealth Partners LLC Sells 137 Shares of Quanta Services, Inc. (NYSE:PWR)

Daymark Wealth Partners LLC lowered its position in shares of Quanta Services, Inc. (NYSE:PWR) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,203 shares of the construction company’s stock after selling 137 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Quanta Services were worth $3,101,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Electron Capital Partners LLC grew its position in Quanta Services by 395.1% in the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after purchasing an additional 2,092,519 shares in the last quarter. Engle Capital Management L.P. boosted its stake in shares of Quanta Services by 13.2% during the 2nd quarter. Engle Capital Management L.P. now owns 42,000 shares of the construction company’s stock worth $10,672,000 after buying an additional 4,900 shares during the last quarter. APG Asset Management N.V. grew its holdings in shares of Quanta Services by 236.6% in the 2nd quarter. APG Asset Management N.V. now owns 17,401 shares of the construction company’s stock valued at $4,125,000 after acquiring an additional 12,231 shares in the last quarter. AXA S.A. increased its position in shares of Quanta Services by 5.9% in the second quarter. AXA S.A. now owns 83,358 shares of the construction company’s stock valued at $21,180,000 after acquiring an additional 4,659 shares during the last quarter. Finally, Xponance Inc. raised its holdings in Quanta Services by 4.4% during the second quarter. Xponance Inc. now owns 23,698 shares of the construction company’s stock worth $6,021,000 after acquiring an additional 1,007 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on PWR shares. TD Cowen boosted their price target on Quanta Services from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Jefferies Financial Group started coverage on shares of Quanta Services in a report on Wednesday, September 4th. They set a “hold” rating and a $256.00 target price on the stock. Wolfe Research assumed coverage on shares of Quanta Services in a research note on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price target for the company. Argus boosted their price objective on shares of Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Finally, Northland Securities boosted their target price on Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and a consensus price target of $286.69.

Quanta Services Trading Down 0.6 %

Shares of Quanta Services stock opened at $296.28 on Friday. 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 12-month low of $153.74 and a 12-month high of $306.50. The company has a market capitalization of $43.37 billion, a price-to-earnings ratio of 57.42 and a beta of 1.01. The firm’s 50-day moving average price is $265.42 and its two-hundred day moving average price is $262.95.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.75 by $0.15. The business had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The company’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.47 earnings per share. On average, analysts forecast that Quanta Services, Inc. will post 7.82 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be issued 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 payout ratio is 6.98%.

Insider Buying and Selling

In other news, 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 owns 21,286 shares in the company, valued at approximately $5,490,297.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services 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 transaction, the insider now directly owns 21,286 shares of the company’s stock, valued at approximately $5,490,297.98. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 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 $7,541,390.06. The disclosure for this sale can be found here. Insiders sold a total of 202,357 shares of company stock valued at $53,115,572 in the last three months. 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.