Brown Brothers Harriman & Co. Has $1.56 Million Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Brown Brothers Harriman & Co. increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 3,416.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 6,154 shares of the construction company’s stock after purchasing an additional 5,979 shares during the period. Brown Brothers Harriman & Co.’s holdings in Quanta Services were worth $1,564,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PWR. EntryPoint Capital LLC acquired a new position in shares of Quanta Services during the 1st quarter worth about $25,000. Private Ocean LLC acquired a new position in Quanta Services in the 1st quarter valued at approximately $26,000. Salomon & Ludwin LLC acquired a new position in Quanta Services in the 1st quarter valued at approximately $26,000. Cambridge Trust Co. acquired a new position in Quanta Services in the 1st quarter valued at approximately $26,000. Finally, Valley Wealth Managers Inc. acquired a new position in Quanta Services in the 2nd quarter valued at approximately $33,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on PWR shares. Citigroup upped their price target on Quanta Services from $299.00 to $302.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Truist Financial reaffirmed a “buy” rating and issued a $319.00 price target (up previously from $305.00) on shares of Quanta Services in a report on Monday, August 5th. Jefferies Financial Group initiated coverage on Quanta Services in a report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price target for the company. Argus upped their price objective on Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Finally, Robert W. Baird upped their price objective on Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and an average price target of $284.50.

Insider Activity

In other news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction 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 completion of the sale, the insider now directly owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO James Redgie Probst sold 34,000 shares of Quanta Services stock in a transaction on 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 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 Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total value of $6,318,302.07. Following the completion of the sale, the insider now directly owns 10,631 shares of the company’s stock, valued at $2,875,791.81. The disclosure for this sale can be found here. In the last ninety days, insiders sold 202,357 shares of company stock valued at $53,115,572. Company insiders own 1.10% of the company’s stock.

Quanta Services Trading Up 0.8 %

PWR stock opened at $271.59 on Tuesday. The business has a fifty day moving average price of $260.21 and a 200 day moving average price of $260.37. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $286.87. The stock has a market capitalization of $40.01 billion, a price-to-earnings ratio of 52.63 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 (NYSE:PWR) last released its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The firm had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period last year, the firm posted $1.47 EPS. The business’s revenue was up 10.8% on a year-over-year basis. Analysts expect that Quanta Services, Inc. will post 7.82 EPS for the current fiscal year.

Quanta Services Dividend Announcement

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