Fiducient Advisors LLC Makes New $508,000 Investment in Quanta Services, Inc. (NYSE:PWR)

Fiducient Advisors LLC acquired a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,000 shares of the construction company’s stock, valued at approximately $508,000.

Several other large investors have also modified their holdings of PWR. Vanguard Group Inc. increased its position in Quanta Services by 0.6% during the first quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock worth $4,245,452,000 after purchasing an additional 105,355 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Quanta Services by 2.4% in the 1st quarter. JPMorgan Chase & Co. now owns 6,760,260 shares of the construction company’s stock worth $1,756,316,000 after buying an additional 156,627 shares during the period. Capital World Investors boosted its holdings in Quanta Services by 10.7% in the first quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock valued at $1,726,042,000 after acquiring an additional 643,011 shares during the last quarter. Artisan Partners Limited Partnership grew its position in Quanta Services by 384.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock valued at $526,261,000 after acquiring an additional 1,935,786 shares during the period. Finally, Norges Bank acquired a new stake in Quanta Services during the fourth quarter worth about $335,777,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PWR shares. Truist Financial reiterated a “buy” rating and set a $319.00 target price (up previously from $305.00) on shares of Quanta Services in a report on Monday, August 5th. Northland Securities increased their price objective on shares of Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Jefferies Financial Group initiated coverage on shares of Quanta Services in a report on Wednesday. They set a “hold” rating and a $256.00 target price on the stock. B. Riley increased their price target on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group raised their price objective on Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $284.50.

Insider Activity

In related news, COO James Redgie Probst sold 34,000 shares of Quanta Services stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $260.03, for a total value of $8,841,020.00. Following the completion of the transaction, the chief operating officer now directly owns 29,002 shares in the company, valued at $7,541,390.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Quanta Services news, COO James Redgie Probst sold 34,000 shares of Quanta Services stock in a transaction on Friday, August 9th. The shares were sold at an average price of $260.03, for a total value of $8,841,020.00. Following the completion of the transaction, the chief operating officer now owns 29,002 shares of the company’s stock, valued at $7,541,390.06. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Karl W. Studer sold 23,357 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the sale, the insider now directly owns 10,631 shares in the company, valued at $2,875,791.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 202,357 shares of company stock worth $53,115,572. 1.10% of the stock is currently owned by corporate insiders.

Quanta Services Trading Down 1.4 %

NYSE:PWR opened at $247.92 on Friday. The stock has a market cap of $36.29 billion, a price-to-earnings ratio of 48.05 and a beta of 1.01. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $286.87. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30. The business’s 50-day simple moving average is $259.33 and its 200 day simple moving average is $259.18.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. The company had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. Quanta Services’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.47 EPS. As a group, sell-side analysts predict that Quanta Services, Inc. will post 7.78 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a 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%.

About Quanta Services

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.