Susquehanna Fundamental Investments LLC Lowers Stake in Quanta Services, Inc. (NYSE:PWR)

Susquehanna Fundamental Investments LLC trimmed its holdings in Quanta Services, Inc. (NYSE:PWR) by 6.8% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 16,953 shares of the construction company’s stock after selling 1,233 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in Quanta Services were worth $4,308,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in PWR. Aveo Capital Partners LLC lifted its position in Quanta Services by 11.0% during the 4th quarter. Aveo Capital Partners LLC now owns 1,313 shares of the construction company’s stock worth $283,000 after acquiring an additional 130 shares during the period. Steward Partners Investment Advisory LLC increased its stake in Quanta Services by 13.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 8,076 shares of the construction company’s stock valued at $1,743,000 after buying an additional 966 shares during the period. TD Asset Management Inc raised its position in Quanta Services by 123.4% during the 4th quarter. TD Asset Management Inc now owns 115,534 shares of the construction company’s stock worth $24,932,000 after buying an additional 63,810 shares during the last quarter. Bank of Nova Scotia lifted its stake in shares of Quanta Services by 135.2% in the 4th quarter. Bank of Nova Scotia now owns 54,987 shares of the construction company’s stock worth $11,866,000 after acquiring an additional 31,608 shares during the period. Finally, California State Teachers Retirement System boosted its holdings in shares of Quanta Services by 1.0% in the fourth quarter. California State Teachers Retirement System now owns 231,173 shares of the construction company’s stock valued at $49,887,000 after acquiring an additional 2,351 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $296.74 on Monday. The company has a market cap of $43.44 billion, a PE ratio of 57.51 and a beta of 1.01. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $306.50. The firm has a 50-day simple moving average of $266.18 and a 200 day simple moving average of $263.66. 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 (NYSE:PWR) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The business had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the prior year, the firm earned $1.47 EPS. The business’s quarterly revenue was up 10.8% on a year-over-year basis. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 7.82 EPS for the current year.

Quanta Services Announces Dividend

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

Wall Street Analysts Forecast Growth

PWR has been the subject of a number of recent analyst reports. Robert W. Baird raised their price objective on shares of Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Jefferies Financial Group assumed coverage on Quanta Services in a report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price target for the company. Truist Financial reaffirmed 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. TD Cowen raised their target price on Quanta Services from $270.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, Northland Securities upped their price target on shares of Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $286.69.

Insider Buying and Selling at Quanta Services

In other news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the sale, the insider now owns 10,631 shares of the company’s stock, valued at $2,875,791.81. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 transaction of $34,087,300.00. Following the transaction, the chief executive officer now directly owns 593,402 shares of the company’s stock, valued at $155,595,938.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the completion of the sale, the insider now directly owns 10,631 shares of the company’s stock, valued at approximately $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 ninety days. Company insiders own 1.10% of the company’s stock.

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.