SG Americas Securities LLC boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR – Free Report) by 160.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,347 shares of the construction company’s stock after acquiring an additional 8,215 shares during the period. SG Americas Securities LLC’s holdings in Quanta Services were worth $2,622,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PWR. Cooper Financial Group acquired a new position in shares of Quanta Services in the second quarter valued at approximately $299,000. Radnor Capital Management LLC increased its position in Quanta Services by 2.6% during the second quarter. Radnor Capital Management LLC now owns 11,080 shares of the construction company’s stock worth $2,177,000 after purchasing an additional 280 shares during the last quarter. Neville Rodie & Shaw Inc. increased its position in Quanta Services by 10.6% during the second quarter. Neville Rodie & Shaw Inc. now owns 149,555 shares of the construction company’s stock worth $29,380,000 after purchasing an additional 14,290 shares during the last quarter. EP Wealth Advisors LLC acquired a new position in Quanta Services during the first quarter worth approximately $205,000. Finally, ProShare Advisors LLC acquired a new position in Quanta Services during the first quarter worth approximately $3,504,000. Institutional investors and hedge funds own 87.86% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have issued reports on PWR. Robert W. Baird reiterated an “outperform” rating and set a $219.00 price objective on shares of Quanta Services in a research note on Thursday, September 14th. Northland Securities upped their target price on shares of Quanta Services from $190.00 to $210.00 in a research note on Friday, August 4th. Argus upped their target price on shares of Quanta Services from $234.00 to $248.00 and gave the company a “buy” rating in a research note on Wednesday, September 6th. StockNews.com initiated coverage on shares of Quanta Services in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Finally, UBS Group upped their target price on shares of Quanta Services from $195.00 to $228.00 in a research note on Monday, July 10th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $205.27.
Quanta Services Stock Down 0.4 %
Shares of NYSE:PWR opened at $195.25 on Thursday. The stock has a market capitalization of $28.35 billion, a price-to-earnings ratio of 49.81 and a beta of 1.08. Quanta Services, Inc. has a 1-year low of $123.25 and a 1-year high of $212.82. The company’s fifty day moving average is $203.16 and its two-hundred day moving average is $183.80. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.64 and a current ratio of 1.68.
Quanta Services (NYSE:PWR – Get Free Report) last issued its 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). Quanta Services had a return on equity of 15.48% and a net margin of 3.16%. The business had revenue of $5.05 billion for the quarter, compared to analyst estimates of $4.69 billion. Equities analysts anticipate that Quanta Services, Inc. will post 6.47 EPS for the current year.
Quanta Services Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Monday, October 2nd will be issued a $0.08 dividend. The ex-dividend date is Friday, September 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.16%. Quanta Services’s dividend payout ratio (DPR) is presently 8.16%.
Insider Buying and Selling
In related news, EVP Donald Wayne sold 5,000 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $210.92, for a total value of $1,054,600.00. Following the sale, the executive vice president now owns 41,323 shares of the company’s stock, valued at approximately $8,715,847.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company’s stock.
Quanta Services Profile
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.
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