Virtu Financial LLC Makes New Investment in Quanta Services, Inc. (NYSE:PWR)

Virtu Financial LLC acquired a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 6,594 shares of the construction company’s stock, valued at approximately $1,675,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Peregrine Asset Advisers Inc. increased its holdings in Quanta Services by 114.0% during the 2nd quarter. Peregrine Asset Advisers Inc. now owns 15,839 shares of the construction company’s stock worth $4,025,000 after purchasing an additional 8,439 shares in the last quarter. Edgestream Partners L.P. bought a new stake in Quanta Services during the second quarter worth $6,354,000. Citizens Financial Group Inc. RI raised its position in Quanta Services by 13.7% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 32,623 shares of the construction company’s stock valued at $8,289,000 after buying an additional 3,931 shares during the last quarter. One Capital Management LLC bought a new position in Quanta Services during the 2nd quarter valued at $325,000. Finally, Menard Financial Group LLC boosted its holdings in Quanta Services by 45.3% during the 2nd quarter. Menard Financial Group LLC now owns 1,398 shares of the construction company’s stock worth $355,000 after acquiring an additional 436 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PWR. TD Cowen raised 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. Jefferies Financial Group began coverage on shares of Quanta Services in a research report on Wednesday, September 4th. They set a “hold” rating and a $256.00 target price on the stock. Citigroup upped 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. Northland Securities boosted their price objective on Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, B. Riley raised their target price on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $284.50.

Quanta Services Stock Up 0.9 %

PWR stock opened at $273.92 on Wednesday. The stock has a fifty day moving average of $260.55 and a 200-day moving average of $260.58. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $286.87. The company has a market capitalization of $40.36 billion, a price-to-earnings ratio of 53.09 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 posted its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.15. The firm had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The company’s revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the company earned $1.47 earnings per share. As a group, equities research analysts predict that Quanta Services, Inc. will post 7.82 earnings per share for the current year.

Quanta Services Dividend Announcement

The business 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 annualized dividend and a dividend yield of 0.13%. Quanta Services’s dividend payout ratio is currently 6.98%.

Insider Transactions at Quanta Services

In related news, insider Karl W. Studer sold 23,357 shares of the 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 owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Karl W. Studer sold 23,357 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 10,631 shares of the company’s stock, valued at $2,875,791.81. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was 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 owns 593,402 shares in the company, valued at $155,595,938.42. The disclosure for this sale can be found here. Insiders sold 202,357 shares of company stock valued at $53,115,572 over the last three months. Company insiders own 1.10% of the company’s stock.

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.