Exchange Traded Concepts LLC lowered its stake in shares of Quanta Services, Inc. (NYSE:PWR – Free Report) by 41.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,338 shares of the construction company’s stock after selling 1,650 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Quanta Services were worth $459,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Greenwich Wealth Management LLC increased its position in Quanta Services by 0.6% during the 1st quarter. Greenwich Wealth Management LLC now owns 10,415 shares of the construction company’s stock worth $1,736,000 after purchasing an additional 60 shares in the last quarter. TCI Wealth Advisors Inc. increased its position in Quanta Services by 33.1% during the 1st quarter. TCI Wealth Advisors Inc. now owns 241 shares of the construction company’s stock worth $40,000 after purchasing an additional 60 shares in the last quarter. Moody Lynn & Lieberson LLC increased its position in Quanta Services by 1.0% during the 1st quarter. Moody Lynn & Lieberson LLC now owns 6,164 shares of the construction company’s stock worth $1,027,000 after purchasing an additional 63 shares in the last quarter. Highview Capital Management LLC DE grew its stake in Quanta Services by 1.0% in the 1st quarter. Highview Capital Management LLC DE now owns 6,548 shares of the construction company’s stock worth $1,091,000 after acquiring an additional 65 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Quanta Services by 0.3% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 24,225 shares of the construction company’s stock worth $4,037,000 after acquiring an additional 70 shares during the period. 87.86% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have commented on PWR. UBS Group lifted their target price on shares of Quanta Services from $195.00 to $228.00 in a research note on Monday, July 10th. Citigroup lifted their price target on Quanta Services from $192.00 to $234.00 and gave the company a “buy” rating in a report on Monday, July 24th. Robert W. Baird restated an “outperform” rating and issued a $219.00 price target on shares of Quanta Services in a report on Thursday, September 14th. StockNews.com began coverage on Quanta Services in a report on Thursday. They issued a “hold” rating for the company. Finally, DA Davidson lifted their price target on Quanta Services from $170.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, August 7th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $205.27.
Insider Buying and Selling at Quanta Services
In other Quanta Services news, EVP Donald Wayne sold 5,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 41,323 shares of the company’s stock, valued at $8,715,847.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by corporate insiders.
Quanta Services Trading Up 2.7 %
Shares of PWR stock opened at $172.71 on Friday. Quanta Services, Inc. has a fifty-two week low of $123.25 and a fifty-two week high of $212.82. The firm’s 50 day moving average price is $198.42 and its two-hundred day moving average price is $185.48. The stock has a market cap of $25.08 billion, a price-to-earnings ratio of 44.06 and a beta of 1.10. The company has a quick ratio of 1.64, a current ratio of 1.68 and a debt-to-equity ratio of 0.74.
Quanta Services (NYSE:PWR – Get Free Report) last posted its earnings results on Thursday, August 3rd. The construction company reported $1.47 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.06). Quanta Services had a net margin of 3.16% and a return on equity of 15.48%. The business had revenue of $5.05 billion for the quarter, compared to analyst estimates of $4.69 billion. On average, analysts anticipate that Quanta Services, Inc. will post 6.46 EPS for the current year.
Quanta Services Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Monday, October 2nd will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.19%. The ex-dividend date is Friday, September 29th. Quanta Services’s dividend payout ratio (DPR) is presently 8.16%.
Quanta Services Company 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.
Read More
- Five stocks we like better than Quanta Services
- Basic Materials Stocks Investing
- Levi Strauss: A Bottom is in for Steady, Stable Dividend Payer
- How to Invest in Small Cap Stocks
- Starbucks Is About To Become A Value Play You Can’t Miss
- Do Real Estate Investment Trusts Deserve a Place in Your Portfolio?
- Intel to Unlock Value By Spinning Off Programmable Chip Unit
Want to see what other hedge funds are holding PWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quanta Services, Inc. (NYSE:PWR – Free Report).
Receive News & Ratings for Quanta Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanta Services and related companies with MarketBeat.com's FREE daily email newsletter.
