Quanta Services, Inc. (NYSE:PWR) Shares Bought by MBB Public Markets I LLC

MBB Public Markets I LLC grew its position in Quanta Services, Inc. (NYSE:PWR) by 1,802.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,972 shares of the construction company’s stock after purchasing an additional 17,975 shares during the quarter. MBB Public Markets I LLC’s holdings in Quanta Services were worth $4,821,000 at the end of the most recent reporting period.

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

Insider Activity

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the completion of the transaction, the insider now owns 10,631 shares in the company, valued at $2,875,791.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO James Redgie Probst sold 34,000 shares of Quanta Services stock in a transaction that occurred on 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 completion of the sale, the chief operating officer now directly owns 29,002 shares in the company, valued at approximately $7,541,390.06. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Karl W. Studer sold 23,357 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the sale, the insider now owns 10,631 shares in the company, valued at $2,875,791.81. The disclosure for this sale can be found here. Insiders sold 202,357 shares of company stock valued at $53,115,572 in the last three months. 1.10% of the stock is currently owned by company insiders.

Quanta Services Price Performance

Shares of NYSE PWR opened at $296.73 on Friday. The stock has a fifty day moving average price of $266.18 and a 200 day moving average price of $263.35. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $306.50. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. The company has a market cap of $43.44 billion, a PE ratio of 57.51 and a beta of 1.01.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.15. The business had revenue of $5.59 billion for 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 business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.47 earnings per share. Sell-side analysts forecast that Quanta Services, Inc. will post 7.82 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders 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 dividend yield of 0.12%. The ex-dividend date of this dividend is Tuesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is 6.98%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PWR shares. Truist Financial restated a “buy” rating and issued a $319.00 target price (up previously from $305.00) on shares of Quanta Services in a report on Monday, August 5th. TD Cowen upped their price objective on shares of Quanta Services from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Northland Securities lifted 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 upped their target price on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Robert W. Baird lifted their price target on Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus target price 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.