Crossmark Global Holdings Inc. Purchases 235 Shares of Quanta Services, Inc. (NYSE:PWR)

Crossmark Global Holdings Inc. lifted its stake in Quanta Services, Inc. (NYSE:PWR) by 3.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,988 shares of the construction company’s stock after purchasing an additional 235 shares during the period. Crossmark Global Holdings Inc.’s holdings in Quanta Services were worth $2,030,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. EntryPoint Capital LLC bought a new position in Quanta Services during the 1st quarter worth about $25,000. Private Ocean LLC bought a new position in Quanta Services during the 1st quarter worth about $26,000. Salomon & Ludwin LLC bought a new position in Quanta Services during the 1st quarter worth about $26,000. Cambridge Trust Co. bought a new position in Quanta Services during the 1st quarter worth about $26,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new position in Quanta Services during the 2nd quarter worth about $38,000. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Performance

Shares of NYSE PWR traded up $4.08 during midday trading on Friday, reaching $275.13. 663,908 shares of the stock were exchanged, compared to its average volume of 933,677. The firm has a market cap of $40.28 billion, a price-to-earnings ratio of 53.32 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 firm has a 50-day simple moving average of $260.27 and a two-hundred day simple moving average of $257.23. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. The business had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The business’s revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the company earned $1.47 EPS. As a group, analysts anticipate that Quanta Services, Inc. will post 7.72 EPS for the current fiscal 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 paid a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.13%. Quanta Services’s dividend payout ratio is currently 6.98%.

Analyst Upgrades and Downgrades

PWR has been the topic of several recent research reports. Citigroup increased their target price on shares of Quanta Services from $299.00 to $302.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Evercore ISI increased their price target on shares of Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. TD Cowen increased their price target on shares of 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 increased their price target on shares of Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Finally, Argus increased their price target on shares of Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and an average price target of $287.09.

Insider Activity at Quanta Services

In related news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction 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 sale, the insider now owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related 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 sale, the chief executive officer now owns 593,402 shares of the company’s stock, valued at approximately $155,595,938.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction on Wednesday, August 21st. The shares were 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 in the company, valued at approximately $2,875,791.81. The disclosure for this sale can be found here. In the last quarter, insiders have sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is owned by company 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.