Quanta Services, Inc. (NYSE:PWR) Position Decreased by Lmcg Investments LLC

Lmcg Investments LLC lowered its holdings in Quanta Services, Inc. (NYSE:PWR) by 4.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 61,268 shares of the construction company’s stock after selling 2,901 shares during the quarter. Quanta Services makes up about 0.9% of Lmcg Investments LLC’s portfolio, making the stock its 23rd biggest holding. Lmcg Investments LLC’s holdings in Quanta Services were worth $15,568,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Citizens Financial Group Inc. RI increased its holdings in shares of Quanta Services by 13.7% in the second quarter. Citizens Financial Group Inc. RI now owns 32,623 shares of the construction company’s stock valued at $8,289,000 after buying an additional 3,931 shares in the last quarter. One Capital Management LLC acquired a new stake in shares of Quanta Services during the second quarter worth $325,000. Menard Financial Group LLC lifted its holdings in shares of Quanta Services by 45.3% during the second quarter. Menard Financial Group LLC now owns 1,398 shares of the construction company’s stock valued at $355,000 after purchasing an additional 436 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Quanta Services by 17.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock valued at $313,968,000 after purchasing an additional 186,306 shares during the period. Finally, Brown Brothers Harriman & Co. increased its stake in Quanta Services by 3,416.6% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 6,154 shares of the construction company’s stock worth $1,564,000 after purchasing an additional 5,979 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Quanta Services

In related news, insider Karl W. Studer sold 23,357 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the transaction, the insider now directly owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total value of $34,087,300.00. Following the transaction, the chief executive officer now directly owns 593,402 shares in the company, valued at approximately $155,595,938.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Karl W. Studer sold 23,357 shares of the business’s 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 transaction, the insider now directly owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. The disclosure for this sale can be found here. In the last quarter, insiders sold 202,357 shares of company stock worth $53,115,572. 1.10% of the stock is owned by corporate insiders.

Quanta Services Trading Up 0.8 %

NYSE:PWR opened at $271.59 on Tuesday. The company has a market capitalization of $40.01 billion, a P/E ratio of 52.63 and a beta of 1.01. The stock’s 50 day moving average price is $260.21 and its 200 day moving average price is $260.37. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $286.87.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.75 by $0.15. The company had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.47 earnings per share. On average, research analysts forecast that Quanta Services, Inc. will post 7.82 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st will be given a $0.09 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.13%. Quanta Services’s dividend payout ratio is currently 6.98%.

Analysts Set New Price Targets

PWR has been the topic of several analyst reports. Citigroup lifted their target price on shares of Quanta Services from $299.00 to $302.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Truist Financial reiterated a “buy” rating and set a $319.00 price objective (up from $305.00) on shares of Quanta Services in a research report on Monday, August 5th. Northland Securities raised their target price on Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. The Goldman Sachs Group upped their price target on Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Finally, Argus raised their price objective on Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and an average price target of $284.50.

Quanta Services Company Profile

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.