Values First Advisors Inc. Takes Position in Quanta Services, Inc. (NYSE:PWR)

Values First Advisors Inc. acquired a new stake in Quanta Services, Inc. (NYSE:PWR) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 1,198 shares of the construction company’s stock, valued at approximately $304,000.

Other institutional investors have also modified their holdings of the company. Oakworth Capital Inc. purchased a new position in Quanta Services during the second quarter valued at approximately $90,000. Sumitomo Life Insurance Co. purchased a new position in Quanta Services during the second quarter valued at approximately $509,000. 1858 Wealth Management LLC purchased a new position in Quanta Services during the second quarter valued at approximately $606,000. Everpar Advisors LLC increased its holdings in Quanta Services by 7.4% during the second quarter. Everpar Advisors LLC now owns 1,262 shares of the construction company’s stock valued at $321,000 after buying an additional 87 shares during the period. Finally, Gradient Investments LLC increased its holdings in Quanta Services by 2.8% during the second quarter. Gradient Investments LLC now owns 52,429 shares of the construction company’s stock valued at $13,322,000 after buying an additional 1,441 shares during the period. 90.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on PWR. DA Davidson raised their target price on shares of Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. B. Riley raised 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. Argus raised their target price on shares of Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. The Goldman Sachs Group raised their target price on shares of Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Finally, Citigroup raised their target price on shares of Quanta Services from $299.00 to $302.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $287.09.

Insider Activity at Quanta Services

In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the completion of the transaction, the chief executive officer now directly owns 593,402 shares in the company, valued at $155,595,938.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now owns 21,286 shares in the company, valued at $5,490,297.98. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 593,402 shares of the company’s stock, valued at approximately $155,595,938.42. The disclosure for this sale can be found here. Insiders sold 179,000 shares of company stock worth $46,797,270 over the last three months. Company insiders own 1.10% of the company’s stock.

Quanta Services Stock Performance

Shares of NYSE:PWR traded down $2.05 on Friday, hitting $265.89. 544,061 shares of the company were exchanged, compared to its average volume of 1,118,593. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $286.87. The stock’s 50 day moving average price is $261.39 and its 200 day moving average price is $252.66. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $39.17 billion, a P/E ratio of 51.53 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 (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.15. The firm had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The firm’s revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.47 earnings per share. Sell-side analysts predict that Quanta Services, Inc. will post 7.72 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Monday, July 1st were given a dividend of $0.09 per share. The ex-dividend date was Monday, July 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. Quanta Services’s dividend payout ratio is presently 6.98%.

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.