Sanibel Captiva Trust Company Inc. Boosts Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Sanibel Captiva Trust Company Inc. raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 45.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,915 shares of the construction company’s stock after buying an additional 910 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Quanta Services were worth $741,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Nomura Holdings Inc. purchased a new stake in Quanta Services during the fourth quarter valued at about $631,000. Wellington Management Group LLP boosted its position in Quanta Services by 581.3% during the fourth quarter. Wellington Management Group LLP now owns 117,014 shares of the construction company’s stock valued at $25,252,000 after buying an additional 99,840 shares during the period. Truist Financial Corp boosted its position in Quanta Services by 2.2% during the fourth quarter. Truist Financial Corp now owns 432,810 shares of the construction company’s stock valued at $93,400,000 after buying an additional 9,421 shares during the period. Vanguard Group Inc. raised its stake in shares of Quanta Services by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 16,235,875 shares of the construction company’s stock valued at $3,503,702,000 after acquiring an additional 191,334 shares during the last quarter. Finally, Allen Investment Management LLC raised its stake in shares of Quanta Services by 1,418.0% during the first quarter. Allen Investment Management LLC now owns 33,396 shares of the construction company’s stock valued at $8,676,000 after acquiring an additional 31,196 shares during the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total value of $34,087,300.00. Following the completion of the transaction, the chief executive officer now directly owns 593,402 shares of the company’s stock, valued at approximately $155,595,938.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, 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 completion of the transaction, the insider now directly owns 21,286 shares of the company’s stock, valued at approximately $5,490,297.98. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the transaction, the chief executive officer now directly owns 593,402 shares of the company’s stock, valued at $155,595,938.42. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 179,000 shares of company stock worth $46,797,270. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on PWR shares. Northland Securities upped their price objective 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. Argus increased their price target on shares of Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. DA Davidson increased their price target on shares of Quanta Services from $225.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. TD Cowen increased their price target on shares of Quanta Services from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, Evercore ISI upped their price objective on shares of Quanta Services from $255.00 to $288.00 and gave the stock an “outperform” rating in a report on Tuesday, May 7th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $287.09.

Quanta Services Stock Down 0.5 %

Shares of NYSE:PWR traded down $1.24 during trading on Tuesday, reaching $266.86. 455,504 shares of the stock traded hands, compared to its average volume of 950,949. The stock has a 50-day moving average of $261.32 and a two-hundred day moving average of $253.94. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $286.87. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30. The stock has a market cap of $39.07 billion, a P/E ratio of 51.29 and a beta of 1.03.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the company posted $1.47 earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, sell-side analysts expect that Quanta Services, Inc. will post 7.72 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Monday, July 1st were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.13%. The ex-dividend date was Monday, July 1st. Quanta Services’s dividend payout ratio is currently 6.98%.

About Quanta Services

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.