Hanlon Investment Management Inc. Buys 114 Shares of Quanta Services, Inc. (NYSE:PWR)

Hanlon Investment Management Inc. lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 2.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,159 shares of the construction company’s stock after purchasing an additional 114 shares during the quarter. Hanlon Investment Management Inc.’s holdings in Quanta Services were worth $1,311,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PWR. Lake Street Advisors Group LLC grew its stake in shares of Quanta Services by 7.2% during the second quarter. Lake Street Advisors Group LLC now owns 1,436 shares of the construction company’s stock worth $365,000 after buying an additional 97 shares during the last quarter. Advisor OS LLC boosted its holdings in shares of Quanta Services by 185.2% during the 2nd quarter. Advisor OS LLC now owns 2,487 shares of the construction company’s stock valued at $632,000 after acquiring an additional 1,615 shares in the last quarter. Howard Capital Management Inc. grew its position in Quanta Services by 231.8% during the 2nd quarter. Howard Capital Management Inc. now owns 4,336 shares of the construction company’s stock worth $1,102,000 after acquiring an additional 3,029 shares during the last quarter. Private Advisor Group LLC increased its holdings in Quanta Services by 14.0% in the 2nd quarter. Private Advisor Group LLC now owns 9,791 shares of the construction company’s stock worth $2,488,000 after purchasing an additional 1,202 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its position in Quanta Services by 18.3% in the second quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the construction company’s stock valued at $355,000 after purchasing an additional 216 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Performance

PWR stock opened at $247.90 on Friday. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year 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 stock has a 50-day moving average price of $259.33 and a 200-day moving average price of $258.84. The firm has a market cap of $36.29 billion, a PE ratio of 48.04 and a beta of 1.01.

Quanta Services (NYSE:PWR) last issued 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. The firm had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.47 earnings per share. As a group, equities research analysts expect that Quanta Services, Inc. will post 7.78 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.15%. The ex-dividend date of this dividend is Tuesday, October 1st. Quanta Services’s dividend payout ratio is presently 6.98%.

Analyst Upgrades and Downgrades

PWR has been the topic of several research reports. Robert W. Baird boosted their price target on Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Citigroup boosted 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. B. Riley raised their price target on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. The Goldman Sachs Group boosted their price objective on shares of Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Finally, Jefferies Financial Group assumed coverage on Quanta Services in a research report on Wednesday. They set a “hold” rating and a $256.00 target price for the company. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $284.50.

Insiders Place Their Bets

In related news, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s 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 transaction, the chief executive officer now directly owns 593,402 shares of the company’s stock, valued at $155,595,938.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Karl W. Studer sold 23,357 shares of the business’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 sale, the insider now directly owns 10,631 shares of the company’s stock, valued at $2,875,791.81. 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. 1.10% of the stock is currently owned by company insiders.

Quanta Services Company 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.