4,059 shares in Quanta Services, Inc. (NYSE:PWR) acquired by Acadian Asset Management LLC

Acadian Asset Management LLC bought a new stake in Quanta Services, Inc. (NYSE:PWR – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,059 shares of the construction company’s stock, valued at approximately $1,031,000.

A number of other hedge funds have also recently modified their holdings of the company. EntryPoint Capital LLC acquired a new position in shares of Quanta Services in the 1st quarter worth about $25,000. Private Ocean LLC acquired a new position in shares of Quanta Services in the 1st quarter worth about $26,000. Salomon & Ludwin LLC bought a new position in Quanta Services in the first quarter worth $26,000. Cambridge Trust Co. bought a new position in shares of Quanta Services in the first quarter worth $26,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Quanta Services in the 4th quarter valued at approximately $34,000. Institutional investors own 90.49% of the company’s shares.

The Wall Street analyst weighs in

Several analysts recently weighed in on the company. Northland Securities boosted their price objective on Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Truist Financial reissued a “buy” rating and set a $319.00 target price (up previously from $305.00) on shares of Quanta Services in a research note on Monday, August 5th. Goldman Sachs Group boosted their price target on Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Robert W. Baird boosted their price target on Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Finally, Citigroup boosted their price objective on Quanta Services from $299.00 to $302.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Moderate Buy” and a consensus price target of $284.50, based on data from MarketBeat.

Read our latest report on PWR

Insiders place their bets

In other news, insider Karl W. Studer sold 23,357 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 10,631 shares in the company, valued at $2,875,791.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction dated Wednesday, August 14th. The stock was 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 owns 593,402 shares of the company’s stock, valued at $155,595,938.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed via this hyperlink. Also, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 10,631 shares in the company, valued at $2,875,791.81. The disclosure for this sale can be found here. Insiders have sold a total of 202,357 shares of company stock worth $53,115,572 over the last 90 days. Corporate insiders own 1.10% of the company’s shares.

Quanta Services stock performance

Shares of PWR stock opened at $271.59 on Tuesday. The company has a market cap of $40.01 billion, a price-to-earnings ratio of 52.63 and a beta of 1.01. The company has a current ratio of 1.30, a quick ratio of 1.25, and a debt-to-equity ratio of 0.45. The stock has a 50-day moving average of $260.21 and a 200-day moving average of $260.37. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $286.87.

Quanta Services (NYSE:PWR – Get Your Free Report ) last released its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. The firm 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 was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.47 EPS. As a group, sell-side analysts forecast that Quanta Services, Inc. will post 7.82 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm 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. This represents an annualized dividend of $0.36 and a dividend yield of 0.13%. The ex-dividend date of this dividend is Tuesday, October 1st. Quanta Services’ dividend payout ratio (DPR) is currently 6.98%.

About Quanta Services

(Free report)

Quanta Services, Inc provides infrastructure solutions for the electric and gas utilities, 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, acquisition, construction, modernization, repair and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance and modernization of electricity infrastructure projects; the installation of smart grid technologies on electricity grids; and the design, installation, maintenance and repair of commercial and industrial wiring.

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