Quanta Services, Inc. (NYSE:PWR) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its stake in shares of Quanta Services, Inc. (NYSE:PWRGet Rating) by 20.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,442 shares of the construction company’s stock after selling 38,703 shares during the quarter. Envestnet Asset Management Inc. owned about 0.10% of Quanta Services worth $19,668,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PWR. JPMorgan Chase & Co. raised its stake in Quanta Services by 18.0% during the 4th quarter. JPMorgan Chase & Co. now owns 4,159,808 shares of the construction company’s stock worth $476,964,000 after acquiring an additional 634,304 shares in the last quarter. Pendal Group Ltd acquired a new stake in Quanta Services during the 1st quarter worth $58,110,000. Kovitz Investment Group Partners LLC raised its stake in Quanta Services by 34.3% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,615,437 shares of the construction company’s stock worth $121,967,000 after acquiring an additional 412,440 shares in the last quarter. Southpoint Capital Advisors LP raised its stake in Quanta Services by 100.0% during the 4th quarter. Southpoint Capital Advisors LP now owns 800,000 shares of the construction company’s stock worth $91,728,000 after acquiring an additional 400,000 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new stake in Quanta Services during the 4th quarter worth $21,903,000. 87.16% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Down 0.9 %

PWR stock opened at $137.06 on Thursday. The company has a market cap of $19.70 billion, a P/E ratio of 41.53 and a beta of 1.10. Quanta Services, Inc. has a 52 week low of $88.31 and a 52 week high of $146.84. The company’s 50-day moving average price is $127.59 and its 200 day moving average price is $119.99. The company has a current ratio of 1.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.74.

Quanta Services (NYSE:PWRGet Rating) last released its quarterly earnings data on Thursday, May 5th. The construction company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.17. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.60 billion. Quanta Services had a net margin of 3.38% and a return on equity of 14.98%. The firm’s revenue was up 46.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.73 earnings per share. On average, research analysts expect that Quanta Services, Inc. will post 5.79 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Friday, July 1st were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend was Thursday, June 30th. Quanta Services’s dividend payout ratio (DPR) is presently 8.48%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Piper Sandler lifted their price objective on shares of Quanta Services from $144.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, April 6th. Cowen lifted their price objective on shares of Quanta Services from $130.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, May 26th. KeyCorp lifted their price objective on shares of Quanta Services from $129.00 to $156.00 in a research note on Thursday, April 14th. Argus assumed coverage on shares of Quanta Services in a research note on Friday, July 15th. They issued a “buy” rating and a $150.00 price objective on the stock. Finally, The Goldman Sachs Group boosted their price target on shares of Quanta Services from $127.00 to $143.00 and gave the stock a “buy” rating in a research note on Thursday, April 7th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and an average target price of $144.08.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, CEO Earl C. Jr. Austin sold 135,000 shares of the company’s stock in a transaction dated Friday, June 10th. The shares were sold at an average price of $126.48, for a total value of $17,074,800.00. Following the sale, the chief executive officer now owns 689,030 shares of the company’s stock, valued at $87,148,514.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Quanta Services news, CEO Earl C. Jr. Austin sold 135,000 shares of the company’s stock in a transaction dated Friday, June 10th. The shares were sold at an average price of $126.48, for a total value of $17,074,800.00. Following the sale, the chief executive officer now owns 689,030 shares of the company’s stock, valued at $87,148,514.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vincent D. Foster sold 14,948 shares of the company’s stock in a transaction dated Wednesday, June 22nd. The shares were sold at an average price of $119.01, for a total transaction of $1,778,961.48. Following the completion of the sale, the director now directly owns 204,925 shares in the company, valued at approximately $24,388,124.25. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Quanta Services Company Profile

(Get Rating)

Quanta Services, Inc provides specialty contracting services worldwide. The 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; energized 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.

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

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