Insider Selling: Quanta Services, Inc. (NYSE:PWR) COO Sells $8,841,020.00 in Stock

Quanta Services, Inc. (NYSE:PWR) 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 of the company’s stock, valued at approximately $7,541,390.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Quanta Services Price Performance

Shares of PWR opened at $267.96 on Friday. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $286.87. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30. The business’s 50 day moving average price is $261.44 and its two-hundred day moving average price is $252.08. The firm has a market cap of $39.23 billion, a PE ratio of 51.93 and a beta of 1.03.

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, 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 company had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the firm earned $1.47 earnings per share. Quanta Services’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities analysts anticipate that Quanta Services, Inc. will post 7.71 EPS for the current year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Monday, July 1st were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date of this dividend was Monday, July 1st. Quanta Services’s payout ratio is 6.98%.

Analyst Ratings Changes

Several research analysts have commented on PWR shares. Truist Financial reissued a “buy” rating and set a $319.00 target price (up previously from $305.00) on shares of Quanta Services in a research note on Monday, August 5th. Robert W. Baird boosted their target price on Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. TD Cowen boosted their target price on Quanta Services from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Northland Securities boosted their target price on Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Finally, Argus boosted their target price on Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $287.09.

Hedge Funds Weigh In On Quanta Services

A number of institutional investors have recently modified their holdings of PWR. Electron Capital Partners LLC raised its position in shares of Quanta Services by 395.1% during 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. Artisan Partners Limited Partnership raised its position in shares of Quanta Services by 384.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock worth $526,261,000 after purchasing an additional 1,935,786 shares during the period. Norges Bank purchased a new stake in Quanta Services in the 4th quarter valued at $335,777,000. Public Employees Retirement Association of Colorado raised its position in Quanta Services by 20,298.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,057,681 shares of the construction company’s stock valued at $228,248,000 after buying an additional 1,052,496 shares during the last quarter. Finally, Swedbank AB purchased a new stake in Quanta Services in the 1st quarter valued at $227,218,000. 90.49% of the stock is owned by institutional investors and hedge funds.

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.