SFE Investment Counsel Sells 510 Shares of Quanta Services, Inc. (NYSE:PWR)

SFE Investment Counsel reduced its position in shares of Quanta Services, Inc. (NYSE:PWR) by 5.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,275 shares of the construction company’s stock after selling 510 shares during the period. SFE Investment Counsel’s holdings in Quanta Services were worth $2,103,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Howard Capital Management Inc. boosted its position in Quanta Services by 231.8% during the 2nd quarter. Howard Capital Management Inc. now owns 4,336 shares of the construction company’s stock worth $1,102,000 after buying an additional 3,029 shares during the period. Private Advisor Group LLC lifted its holdings in shares of Quanta Services by 14.0% during the second quarter. Private Advisor Group LLC now owns 9,791 shares of the construction company’s stock worth $2,488,000 after purchasing an additional 1,202 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of Quanta Services by 18.3% in the second quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the construction company’s stock worth $355,000 after purchasing an additional 216 shares during the last quarter. Wellington Shields Capital Management LLC grew its stake in shares of Quanta Services by 0.5% in the second quarter. Wellington Shields Capital Management LLC now owns 18,689 shares of the construction company’s stock worth $4,749,000 after purchasing an additional 90 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in Quanta Services by 0.6% in the second quarter. Arizona State Retirement System now owns 40,211 shares of the construction company’s stock valued at $10,217,000 after purchasing an additional 251 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Trading Down 1.4 %

PWR opened at $247.90 on Friday. The company has a fifty day moving average price of $259.33 and a two-hundred day moving average price of $258.84. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $286.87. The company has a market cap of $36.29 billion, a P/E ratio of 48.04 and a beta of 1.01. 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 posted 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. The business had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.47 EPS. Analysts predict that Quanta Services, Inc. will post 7.78 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend is Tuesday, October 1st. Quanta Services’s dividend payout ratio is currently 6.98%.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services 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 in the company, valued at approximately $155,595,938.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total value of $6,318,302.07. Following the transaction, the insider now directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. The disclosure for this sale can be found here. In the last 90 days, insiders sold 202,357 shares of company stock worth $53,115,572. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on PWR shares. The Goldman Sachs Group lifted their target price on Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Truist Financial reiterated a “buy” rating and issued a $319.00 target price (up from $305.00) on shares of Quanta Services in a report on Monday, August 5th. 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 report on Friday, August 2nd. Jefferies Financial Group started coverage on shares of Quanta Services in a research note on Wednesday. They issued a “hold” rating and a $256.00 price objective on the stock. Finally, Argus lifted their target price on shares of Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $284.50.

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.