Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Sarasin & Partners LLP

Sarasin & Partners LLP grew its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 15.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 16,334 shares of the construction company’s stock after acquiring an additional 2,223 shares during the period. Sarasin & Partners LLP’s holdings in Quanta Services were worth $4,150,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Financial Partners Group Inc increased its stake in shares of Quanta Services by 3.4% in the second quarter. Financial Partners Group Inc now owns 2,780 shares of the construction company’s stock worth $706,000 after acquiring an additional 92 shares during the last quarter. Raymond James & Associates increased its position in Quanta Services by 9.3% during the second quarter. Raymond James & Associates now owns 208,527 shares of the construction company’s stock worth $52,985,000 after buying an additional 17,737 shares during the last quarter. Values First Advisors Inc. acquired a new position in Quanta Services during the second quarter worth $304,000. Oakworth Capital Inc. acquired a new position in Quanta Services during the second quarter worth $90,000. Finally, Sumitomo Life Insurance Co. acquired a new position in Quanta Services during the second quarter worth $509,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Price Performance

PWR stock traded down $2.05 during trading on Friday, reaching $265.89. 544,061 shares of the company were exchanged, compared to its average volume of 1,118,593. The company has a 50-day moving average of $261.39 and a two-hundred day moving average of $253.05. The company has a market capitalization of $39.17 billion, a price-to-earnings ratio of 51.53 and a beta of 1.03. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $286.87. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.15. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The firm had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the prior year, the company posted $1.47 EPS. The company’s revenue was up 10.8% on a year-over-year basis. As a group, equities analysts predict that Quanta Services, Inc. will post 7.72 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Monday, July 1st were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. The ex-dividend date was Monday, July 1st. Quanta Services’s dividend payout ratio (DPR) is presently 6.98%.

Analyst Ratings Changes

PWR has been the subject of a number of recent analyst reports. Evercore ISI upped their price target on shares of Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. DA Davidson upped their price target on shares of Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Northland Securities increased their target price on shares of Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. TD Cowen increased their target price on shares of Quanta Services from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, Argus increased their target price on shares of Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $287.09.

Insider Buying and Selling

In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction on 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 transaction, 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 legal filing with the SEC, which can be accessed through this hyperlink. In related news, COO James Redgie Probst sold 34,000 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the transaction, the chief operating officer now directly owns 29,002 shares of the company’s stock, valued at $7,541,390.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the transaction, the insider now directly owns 21,286 shares in the company, valued at $5,490,297.98. The disclosure for this sale can be found here. Insiders have sold a total of 179,000 shares of company stock valued at $46,797,270 over the last ninety days. 1.10% of the stock is owned by corporate insiders.

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.