L & S Advisors Inc Sells 8,973 Shares of Quanta Services, Inc. (NYSE:PWR)

L & S Advisors Inc lowered its position in Quanta Services, Inc. (NYSE:PWR) by 35.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,414 shares of the construction company’s stock after selling 8,973 shares during the period. L & S Advisors Inc’s holdings in Quanta Services were worth $4,171,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PWR. Axxcess Wealth Management LLC boosted its stake in Quanta Services by 98.3% in the second quarter. Axxcess Wealth Management LLC now owns 1,892 shares of the construction company’s stock valued at $481,000 after acquiring an additional 938 shares during the last quarter. Tower Wealth Partners Inc. grew its position in shares of Quanta Services by 4.6% during the 2nd quarter. Tower Wealth Partners Inc. now owns 1,088 shares of the construction company’s stock valued at $276,000 after purchasing an additional 48 shares in the last quarter. Monetta Financial Services Inc. bought a new position in Quanta Services in the 2nd quarter worth about $762,000. Virtu Financial LLC purchased a new stake in shares of Quanta Services in the 2nd quarter valued at about $1,675,000. Finally, Peregrine Asset Advisers Inc. grew its holdings in shares of Quanta Services by 114.0% during the second quarter. Peregrine Asset Advisers Inc. now owns 15,839 shares of the construction company’s stock worth $4,025,000 after purchasing an additional 8,439 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PWR. B. Riley lifted their target price on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Argus lifted their price target on Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. TD Cowen increased their price objective on Quanta Services from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. The Goldman Sachs Group lifted their target price on shares of Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Finally, Citigroup increased their price objective on Quanta Services from $299.00 to $302.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $284.50.

Insiders Place Their Bets

In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $257.93, for a total value of $3,868,950.00. Following the sale, the insider now directly owns 21,286 shares of the company’s stock, valued at $5,490,297.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Karl W. Studer sold 23,357 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the sale, the insider now owns 21,286 shares of the company’s stock, valued at $5,490,297.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 202,357 shares of company stock worth $53,115,572. Company insiders own 1.10% of the company’s stock.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $271.59 on Tuesday. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $286.87. 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 company has a market cap of $40.01 billion, a PE ratio of 52.63 and a beta of 1.01. The company’s 50 day moving average is $260.55 and its 200 day moving average is $260.58.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the business earned $1.47 earnings per share. The company’s revenue was up 10.8% compared to the same quarter last year. On average, sell-side analysts forecast that Quanta Services, Inc. will post 7.82 EPS for the current year.

Quanta Services Announces Dividend

The business 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 $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend is Tuesday, October 1st. Quanta Services’s payout ratio is presently 6.98%.

Quanta Services Profile

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.