Menard Financial Group LLC Purchases 436 Shares of Quanta Services, Inc. (NYSE:PWR)

Menard Financial Group LLC raised its position in Quanta Services, Inc. (NYSE:PWR) by 45.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,398 shares of the construction company’s stock after purchasing an additional 436 shares during the period. Menard Financial Group LLC’s holdings in Quanta Services were worth $355,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PWR. 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 worth $526,261,000 after buying an additional 1,935,786 shares in the last quarter. Norges Bank bought a new position in shares of Quanta Services in the fourth quarter worth approximately $335,777,000. Public Employees Retirement Association of Colorado raised its stake in Quanta Services by 20,298.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,057,681 shares of the construction company’s stock valued at $228,248,000 after purchasing an additional 1,052,496 shares in the last quarter. Swedbank AB bought a new stake in Quanta Services during the first quarter valued at approximately $227,218,000. Finally, Capital World Investors grew its stake in Quanta Services by 10.7% in the 1st quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock worth $1,726,042,000 after buying an additional 643,011 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Insiders Place Their Bets

In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $257.93, for a total value of $3,868,950.00. Following the completion of the transaction, the insider now owns 21,286 shares of the company’s stock, valued at approximately $5,490,297.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO James Redgie Probst sold 34,000 shares of the company’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 29,002 shares of the company’s stock, valued at approximately $7,541,390.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the transaction, the insider now directly owns 21,286 shares of the company’s stock, valued at $5,490,297.98. The disclosure for this sale can be found here. Insiders sold 202,357 shares of company stock worth $53,115,572 over the last three months. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Jefferies Financial Group initiated coverage on shares of Quanta Services in a report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price objective for the company. Northland Securities increased their price objective on Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Citigroup boosted their target price on Quanta Services from $299.00 to $302.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. The Goldman Sachs Group increased their price target on shares of Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Finally, Truist Financial restated a “buy” rating and issued a $319.00 price objective (up from $305.00) on shares of Quanta Services in a report on Monday, August 5th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and an average price target of $284.50.

Quanta Services Stock Up 0.4 %

Shares of NYSE:PWR opened at $269.54 on Monday. The stock’s 50-day moving average is $260.21 and its 200 day moving average is $260.22. The company has a market cap of $39.46 billion, a PE ratio of 52.24 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $286.87.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. The company had revenue of $5.59 billion during 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%. The firm’s revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.47 earnings per share. Sell-side analysts anticipate that Quanta Services, Inc. will post 7.82 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend is Tuesday, October 1st. Quanta Services’s 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.