SFE Investment Counsel Purchases Shares of 12,510 Quanta Services, Inc. (NYSE:PWR)

SFE Investment Counsel purchased a new stake in Quanta Services, Inc. (NYSE:PWR) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 12,510 shares of the construction company’s stock, valued at approximately $1,133,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. boosted its holdings in Quanta Services by 209.2% in the first quarter. UBS Asset Management Americas Inc. now owns 809,247 shares of the construction company’s stock valued at $71,198,000 after acquiring an additional 547,564 shares during the last quarter. BlackRock Inc. increased its position in Quanta Services by 4.5% during the 1st quarter. BlackRock Inc. now owns 11,859,379 shares of the construction company’s stock worth $1,043,389,000 after purchasing an additional 507,290 shares in the last quarter. Southpoint Capital Advisors LP acquired a new position in Quanta Services during the first quarter valued at approximately $43,990,000. Assetmark Inc. increased its holdings in Quanta Services by 7,667.0% in the 1st quarter. Assetmark Inc. now owns 459,027 shares of the construction company’s stock valued at $40,385,000 after purchasing an additional 453,117 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. boosted its position in shares of Quanta Services by 184.8% in the first quarter. Cookson Peirce & Co. Inc. now owns 504,772 shares of the construction company’s stock worth $44,410,000 after buying an additional 327,504 shares during the period. 88.07% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director John Michal Conaway sold 3,500 shares of Quanta Services stock in a transaction that occurred on Thursday, June 17th. The stock was sold at an average price of $89.57, for a total transaction of $313,495.00. Following the transaction, the director now owns 7,226 shares of the company’s stock, valued at $647,232.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

PWR has been the subject of a number of recent analyst reports. KeyCorp raised their price target on shares of Quanta Services from $115.00 to $129.00 and gave the company an “overweight” rating in a report on Friday, September 3rd. DA Davidson increased their target price on Quanta Services from $95.00 to $108.00 and gave the company a “neutral” rating in a research note on Friday, September 3rd. They noted that the move was a valuation call. Credit Suisse Group lifted their price target on shares of Quanta Services from $118.00 to $137.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 8th. Piper Sandler boosted their price objective on Quanta Services from $120.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, September 3rd. Finally, Northland Securities lifted their price target on shares of Quanta Services from $103.00 to $129.00 and gave the company an “outperform” rating in a report on Friday, September 3rd. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Quanta Services presently has an average rating of “Buy” and a consensus target price of $105.92.

Quanta Services stock traded up $2.39 during midday trading on Wednesday, reaching $118.39. 16,339 shares of the company’s stock were exchanged, compared to its average volume of 1,104,314. Quanta Services, Inc. has a 52 week low of $48.53 and a 52 week high of $117.19. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.72 and a current ratio of 1.75. The firm has a market cap of $16.50 billion, a price-to-earnings ratio of 31.10 and a beta of 1.25. The stock’s 50-day simple moving average is $97.29 and its 200 day simple moving average is $93.54.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, August 5th. The construction company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.89 by $0.17. Quanta Services had a net margin of 4.64% and a return on equity of 13.29%. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.94 billion. Research analysts forecast that Quanta Services, Inc. will post 4.13 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Friday, October 1st will be issued a $0.06 dividend. The ex-dividend date is Thursday, September 30th. This represents a $0.24 dividend on an annualized basis and a yield of 0.20%. Quanta Services’s payout ratio is currently 7.23%.

Quanta Services Profile

Quanta Services, Inc engages in the provision of specialty contracting services, offering infrastructure solutions to the electric power, oil and gas, and communication industries. The firm operates through the Electric Power Infrastructure Services, and Underground Utility and Infrastructure Solutions segment.

Further Reading: How does the Beige Book influence monetary policy?

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).

Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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.