J.W. Cole Advisors Inc. Has $1.15 Million Position in Quanta Services, Inc. (NYSE:PWR)

J.W. Cole Advisors Inc. lowered its holdings in Quanta Services, Inc. (NYSE:PWR) by 4.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,535 shares of the construction company’s stock after selling 235 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Quanta Services were worth $1,152,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. EntryPoint Capital LLC acquired a new stake in Quanta Services in the 1st quarter valued at $25,000. Private Ocean LLC acquired a new stake in Quanta Services in the 1st quarter valued at $26,000. Salomon & Ludwin LLC bought a new position in Quanta Services during the 1st quarter valued at $26,000. Cambridge Trust Co. bought a new position in Quanta Services during the 1st quarter valued at $26,000. Finally, Valley Wealth Managers Inc. bought a new position in Quanta Services during the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of Quanta Services 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 completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was 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 owns 21,286 shares of the company’s stock, valued at $5,490,297.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value 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 disclosure for this sale can be found here. Insiders sold 202,357 shares of company stock valued at $53,115,572 in the last quarter. 1.10% of the stock is currently owned by corporate insiders.

Quanta Services Trading Up 0.4 %

Shares of Quanta Services stock opened at $269.54 on Monday. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $286.87. The stock’s 50-day simple moving average is $260.21 and its 200 day simple moving average is $260.22. The stock has a market capitalization of $39.46 billion, a P/E 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.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data 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. 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 analysts’ expectations of $5.51 billion. During the same period in the previous year, the business posted $1.47 EPS. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, research analysts anticipate that Quanta Services, Inc. will post 7.82 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently disclosed 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. This represents a $0.36 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date is Tuesday, October 1st. Quanta Services’s dividend payout ratio is currently 6.98%.

Analyst Ratings Changes

PWR has been the topic of several recent analyst reports. Northland Securities raised their price objective on Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. TD Cowen raised their price objective on Quanta Services from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Jefferies Financial Group initiated coverage on Quanta Services in a research note on Wednesday, September 4th. They set a “hold” rating and a $256.00 price objective on the stock. The Goldman Sachs Group raised 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 Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $284.50.

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.