3,000 Shares in Quanta Services, Inc. (NYSE:PWR) Acquired by Monetta Financial Services Inc.

Monetta Financial Services Inc. bought a new position in shares of Quanta Services, Inc. (NYSE:PWR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,000 shares of the construction company’s stock, valued at approximately $762,000.

Several other institutional investors have also recently added to or reduced their stakes in PWR. Aveo Capital Partners LLC grew its holdings in shares of Quanta Services by 11.0% in the fourth quarter. Aveo Capital Partners LLC now owns 1,313 shares of the construction company’s stock valued at $283,000 after purchasing an additional 130 shares in the last quarter. Foundations Investment Advisors LLC purchased a new position in Quanta Services in the fourth quarter valued at approximately $210,000. Brown Advisory Inc. raised its holdings in Quanta Services by 2.2% during the fourth quarter. Brown Advisory Inc. now owns 43,796 shares of the construction company’s stock worth $9,451,000 after purchasing an additional 952 shares in the last quarter. Norges Bank purchased a new stake in shares of Quanta Services during the 4th quarter worth approximately $335,777,000. Finally, UBS Group AG boosted its holdings in shares of Quanta Services by 31.5% in the 4th quarter. UBS Group AG now owns 1,246,229 shares of the construction company’s stock valued at $268,936,000 after buying an additional 298,540 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of PWR opened at $271.59 on Tuesday. 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, Inc. has a 52-week low of $153.74 and a 52-week high of $286.87. The company has a 50-day simple moving average of $260.55 and a 200-day simple moving average of $260.58. The company has a market capitalization of $40.01 billion, a PE ratio of 52.63 and a beta of 1.01.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. The company had revenue of $5.59 billion during 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 firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company posted $1.47 earnings per share. Equities research analysts predict that Quanta Services, Inc. will post 7.82 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st will be given a dividend of $0.09 per share. The ex-dividend date is Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.13%. Quanta Services’s payout ratio is 6.98%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PWR. Northland Securities boosted their price target on shares of Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Citigroup boosted their target price on Quanta Services from $299.00 to $302.00 and gave the company a “buy” rating in a report on Monday, July 22nd. TD Cowen raised their price target on Quanta Services from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. The Goldman Sachs Group boosted their price objective on Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Finally, Argus lifted their target price on shares of Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $284.50.

Insider Buying and Selling at Quanta Services

In related news, insider Karl W. Studer sold 23,357 shares of the business’s stock in a transaction dated 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 directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the completion of the sale, the chief executive officer now directly owns 593,402 shares in the company, valued at approximately $155,595,938.42. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 202,357 shares of company stock valued at $53,115,572. Insiders own 1.10% of the company’s stock.

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.