Radnor Capital Management LLC increased its stake in Quanta Services, Inc. (NYSE:PWR – Free Report) by 2.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,080 shares of the construction company’s stock after buying an additional 280 shares during the period. Quanta Services accounts for 0.9% of Radnor Capital Management LLC’s portfolio, making the stock its 21st largest position. Radnor Capital Management LLC’s holdings in Quanta Services were worth $2,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently bought and sold shares of PWR. Norges Bank bought a new position in Quanta Services in the fourth quarter worth about $180,853,000. FMR LLC raised its stake in Quanta Services by 19.7% in the first quarter. FMR LLC now owns 4,905,283 shares of the construction company’s stock worth $817,416,000 after buying an additional 806,157 shares in the last quarter. Great Lakes Advisors LLC bought a new position in Quanta Services in the first quarter worth about $118,223,000. Royal Bank of Canada raised its stake in Quanta Services by 52.2% in the first quarter. Royal Bank of Canada now owns 1,492,323 shares of the construction company’s stock worth $196,405,000 after buying an additional 511,508 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Quanta Services by 9.0% in the fourth quarter. JPMorgan Chase & Co. now owns 6,055,835 shares of the construction company’s stock worth $862,956,000 after purchasing an additional 501,131 shares during the period. 87.86% of the stock is owned by institutional investors.
Quanta Services Stock Down 1.3 %
Shares of NYSE:PWR traded down $2.58 during trading on Friday, reaching $200.21. 174,914 shares of the stock traded hands, compared to its average volume of 817,350. The stock has a 50-day moving average of $203.23 and a two-hundred day moving average of $182.66. Quanta Services, Inc. has a 52-week low of $123.25 and a 52-week high of $212.82. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.64 and a current ratio of 1.68. The stock has a market cap of $29.07 billion, a P/E ratio of 51.73 and a beta of 1.08.
Quanta Services Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Monday, October 2nd will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.16%. The ex-dividend date of this dividend is Friday, September 29th. Quanta Services’s dividend payout ratio is currently 8.16%.
Insider Buying and Selling
In related news, EVP Donald Wayne sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $210.92, for a total value of $1,054,600.00. Following the sale, the executive vice president now owns 41,323 shares in the company, valued at $8,715,847.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on PWR shares. Northland Securities upped their price objective on shares of Quanta Services from $190.00 to $210.00 in a report on Friday, August 4th. Argus upped their price objective on shares of Quanta Services from $234.00 to $248.00 and gave the stock a “buy” rating in a report on Wednesday, September 6th. Credit Suisse Group upped their price objective on shares of Quanta Services from $201.00 to $238.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. StockNews.com started coverage on shares of Quanta Services in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Citigroup upped their price objective on shares of Quanta Services from $192.00 to $234.00 and gave the stock a “buy” rating in a report on Monday, July 24th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and a consensus price target of $205.27.
Quanta Services Profile
Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries worldwide. 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.
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