ICA Group Wealth Management LLC Sells 43 Shares of Quanta Services, Inc. (NYSE:PWR)

ICA Group Wealth Management LLC trimmed its holdings in Quanta Services, Inc. (NYSE:PWR) by 3.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,401 shares of the construction company’s stock after selling 43 shares during the quarter. ICA Group Wealth Management LLC’s holdings in Quanta Services were worth $356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Pinion Investment Advisors LLC lifted its holdings in shares of Quanta Services by 9.8% during the second quarter. Pinion Investment Advisors LLC now owns 1,819 shares of the construction company’s stock valued at $462,000 after purchasing an additional 162 shares during the last quarter. Garrison Asset Management LLC bought a new position in Quanta Services during the 2nd quarter valued at approximately $1,847,000. Envestnet Asset Management Inc. grew its stake in shares of Quanta Services by 7.8% in the second quarter. Envestnet Asset Management Inc. now owns 159,803 shares of the construction company’s stock worth $40,604,000 after acquiring an additional 11,577 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Quanta Services by 26.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 1,255 shares of the construction company’s stock valued at $319,000 after acquiring an additional 262 shares in the last quarter. Finally, Thoroughbred Financial Services LLC purchased a new position in shares of Quanta Services in the 2nd quarter worth about $421,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 593,402 shares in the company, valued at $155,595,938.42. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was 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 directly owns 593,402 shares in the company, valued at $155,595,938.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $257.93, for a total value of $3,868,950.00. Following the transaction, the insider now owns 21,286 shares of the company’s stock, valued at approximately $5,490,297.98. The disclosure for this sale can be found here. Insiders have sold a total of 202,357 shares of company stock worth $53,115,572 over the last quarter. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Robert W. Baird increased their price objective on shares of Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Northland Securities increased their target price on Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Truist Financial reaffirmed a “buy” rating and set a $319.00 price target (up from $305.00) on shares of Quanta Services in a report on Monday, August 5th. TD Cowen raised their target price on Quanta Services from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Argus upped 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. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $284.50.

Quanta Services Stock Up 0.4 %

PWR opened at $269.54 on Friday. The stock has a market cap of $39.71 billion, a price-to-earnings ratio of 52.24 and a beta of 1.01. 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 firm’s fifty day moving average is $260.21 and its 200 day moving average is $260.07. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $286.87.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.75 by $0.15. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The business had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the previous year, the business earned $1.47 earnings per share. The business’s revenue was up 10.8% on a year-over-year basis. On average, sell-side analysts forecast that Quanta Services, Inc. will post 7.82 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

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