AM Investment Strategies LLC cut its position in Quanta Services, Inc. (NYSE:PWR – Free Report) by 16.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,181 shares of the construction company’s stock after selling 605 shares during the period. AM Investment Strategies LLC’s holdings in Quanta Services were worth $625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently made changes to their positions in the company. Old North State Trust LLC lifted its position in Quanta Services by 45.7% during the first quarter. Old North State Trust LLC now owns 523 shares of the construction company’s stock worth $87,000 after buying an additional 164 shares in the last quarter. Lagoda Investment Management L.P. raised its holdings in shares of Quanta Services by 17.1% in the 1st quarter. Lagoda Investment Management L.P. now owns 1,200 shares of the construction company’s stock valued at $200,000 after buying an additional 175 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Quanta Services by 6.7% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 104,952 shares of the construction company’s stock valued at $17,489,000 after buying an additional 6,550 shares during the period. Everhart Financial Group Inc. raised its holdings in shares of Quanta Services by 12.5% in the 1st quarter. Everhart Financial Group Inc. now owns 2,347 shares of the construction company’s stock valued at $391,000 after buying an additional 261 shares during the period. Finally, 180 Wealth Advisors LLC raised its holdings in shares of Quanta Services by 13.6% in the 2nd quarter. 180 Wealth Advisors LLC now owns 3,101 shares of the construction company’s stock valued at $607,000 after buying an additional 372 shares during the period. 87.86% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Quanta Services news, EVP Donald Wayne sold 5,000 shares of Quanta Services stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $210.92, for a total value of $1,054,600.00. Following the completion of the transaction, the executive vice president now directly owns 41,323 shares in the company, valued at $8,715,847.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the company. UBS Group boosted their price objective on Quanta Services from $195.00 to $228.00 in a report on Monday, July 10th. Northland Securities boosted their price objective on Quanta Services from $190.00 to $210.00 in a report on Friday, August 4th. StockNews.com initiated coverage on Quanta Services in a research note on Thursday. They set a “hold” rating for the company. Credit Suisse Group boosted their target price on Quanta Services from $201.00 to $238.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. Finally, Citigroup boosted their target price on Quanta Services from $192.00 to $234.00 and gave the stock a “buy” rating in a research note on Monday, July 24th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and a consensus target price of $205.27.
Check Out Our Latest Analysis on PWR
Quanta Services Stock Performance
Shares of PWR stock opened at $172.71 on Friday. The company has a market cap of $25.08 billion, a price-to-earnings ratio of 44.06 and a beta of 1.10. The stock has a 50 day simple moving average of $198.42 and a 200-day simple moving average of $185.64. Quanta Services, Inc. has a 12-month low of $123.25 and a 12-month high of $212.82. The company has a current ratio of 1.68, a quick ratio of 1.64 and a debt-to-equity ratio of 0.74.
Quanta Services (NYSE:PWR – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The construction company reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.06). The firm had revenue of $5.05 billion during the quarter, compared to analyst estimates of $4.69 billion. Quanta Services had a return on equity of 15.48% and a net margin of 3.16%. On average, equities analysts forecast that Quanta Services, Inc. will post 6.46 EPS for the current year.
Quanta Services Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Monday, October 2nd will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.19%. Quanta Services’s dividend payout ratio (DPR) is 8.16%.
About Quanta Services
(Free Report)
Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries worldwide. 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.
Read More
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Quanta Services, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Quanta Services wasn’t on the list.
While Quanta Services currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to generate income with your stock portfolio? Use these ten stocks to generate a safe and reliable source of investment income.
Get This Free Report