SFE Investment Counsel Makes New $1.13 Million Investment in Quanta Services, Inc. (NYSE:PWR)

SFE Investment Counsel acquired a new stake in shares of Quanta Services, Inc. (NYSE:PWR) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,510 shares of the construction company’s stock, valued at approximately $1,133,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Trustcore Financial Services LLC acquired a new stake in shares of Quanta Services in the second quarter valued at about $25,000. First Horizon Advisors Inc. grew its stake in shares of Quanta Services by 126.6% during the second quarter. First Horizon Advisors Inc. now owns 358 shares of the construction company’s stock valued at $31,000 after purchasing an additional 200 shares during the last quarter. Cypress Point Wealth Management LLC bought a new stake in shares of Quanta Services during the second quarter worth approximately $38,000. Berman Capital Advisors LLC increased its stake in Quanta Services by 229.4% in the first quarter. Berman Capital Advisors LLC now owns 448 shares of the construction company’s stock valued at $39,000 after purchasing an additional 312 shares in the last quarter. Finally, Selective Wealth Management Inc. bought a new position in Quanta Services in the second quarter valued at approximately $45,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director John Michal Conaway sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 17th. The shares were sold at an average price of $89.57, for a total transaction of $313,495.00. Following the completion of the sale, the director now owns 7,226 shares of the company’s stock, valued at $647,232.82. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by company insiders.

Shares of PWR traded up $2.39 during trading hours on Wednesday, reaching $118.39. The company had a trading volume of 16,339 shares, compared to its average volume of 1,104,314. The company has a current ratio of 1.75, a quick ratio of 1.72 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $16.50 billion, a price-to-earnings ratio of 31.10 and a beta of 1.25. Quanta Services, Inc. has a 12-month low of $48.53 and a 12-month high of $117.19. The firm has a 50 day simple moving average of $97.29 and a 200-day simple moving average of $93.54.

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

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

PWR has been the topic of a number of research reports. Credit Suisse Group upped their price target on shares of Quanta Services from $118.00 to $137.00 and gave the company an “outperform” rating in a research note on Wednesday, September 8th. Northland Securities lifted their target price on Quanta Services from $103.00 to $129.00 and gave the stock an “outperform” rating in a report on Friday, September 3rd. Zacks Investment Research raised shares of Quanta Services from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a research note on Monday, August 30th. Cowen boosted their price target on shares of Quanta Services from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, September 10th. Finally, DA Davidson upped their price target on shares of Quanta Services from $95.00 to $108.00 and gave the stock a “neutral” rating in a report on Friday, September 3rd. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $105.92.

About Quanta Services

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.

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

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