5,349 Shares in Quanta Services, Inc. (NYSE:PWR) Bought by Scientech Research LLC

Scientech Research LLC acquired a new stake in Quanta Services, Inc. (NYSE:PWR) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,349 shares of the construction company’s stock, valued at approximately $1,359,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Quanta Services by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock worth $4,245,452,000 after buying an additional 105,355 shares during the period. JPMorgan Chase & Co. boosted its holdings in Quanta Services by 2.4% during the first quarter. JPMorgan Chase & Co. now owns 6,760,260 shares of the construction company’s stock valued at $1,756,316,000 after acquiring an additional 156,627 shares during the period. Capital World Investors grew its position in shares of Quanta Services by 10.7% in the first quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock valued at $1,726,042,000 after purchasing an additional 643,011 shares during the last quarter. Electron Capital Partners LLC increased its stake in shares of 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 worth $666,260,000 after purchasing an additional 2,092,519 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Quanta Services by 17.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock worth $313,968,000 after purchasing an additional 186,306 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insiders Place Their Bets

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 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 approximately $5,490,297.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 593,402 shares in the company, valued at $155,595,938.42. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following 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 ninety days, insiders have sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is currently owned by insiders.

Quanta Services Stock Up 0.1 %

NYSE PWR opened at $296.73 on Friday. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $306.50. The company has a market capitalization of $43.44 billion, a price-to-earnings ratio of 57.51 and a beta of 1.01. The stock’s 50 day moving average is $266.18 and its two-hundred day moving average is $263.35. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.45.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. Quanta Services’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.47 EPS. Equities analysts forecast that Quanta Services, Inc. will post 7.82 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend is Tuesday, October 1st. Quanta Services’s dividend payout ratio is currently 6.98%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Truist Financial reaffirmed a “buy” rating and issued a $319.00 price target (up from $305.00) on shares of Quanta Services in a research report on Monday, August 5th. B. Riley upped their target price on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Northland Securities raised their price target on shares of Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. TD Cowen increased their target price 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. Finally, Citigroup lifted their target price on Quanta Services from $299.00 to $302.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. 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 currently has a consensus rating of “Moderate Buy” and an average target price of $286.69.

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.