Leavell Investment Management Inc. Boosts Holdings in Quanta Services, Inc. (NYSE:PWR)

Leavell Investment Management Inc. grew its position in shares of Quanta Services, Inc. (NYSE:PWR) by 11.6% in the second quarter, Holdings Channel reports. The firm owned 10,804 shares of the construction company’s stock after purchasing an additional 1,125 shares during the period. Leavell Investment Management Inc.’s holdings in Quanta Services were worth $2,745,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PWR. EntryPoint Capital LLC purchased a new position in Quanta Services during the first quarter worth about $25,000. Private Ocean LLC purchased a new position in shares of Quanta Services during the first quarter worth about $26,000. Salomon & Ludwin LLC bought a new position in shares of Quanta Services in the first quarter worth approximately $26,000. Cambridge Trust Co. purchased a new stake in Quanta Services in the first quarter valued at approximately $26,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in Quanta Services during the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on PWR. Northland Securities increased their price target on shares of Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Argus increased their target price on Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Truist Financial reaffirmed a “buy” rating and set a $319.00 price target (up previously from $305.00) on shares of Quanta Services in a research note on Monday, August 5th. The Goldman Sachs Group increased their price objective on Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Finally, Evercore ISI boosted their target price on Quanta Services from $255.00 to $288.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $287.09.

Insider Transactions at Quanta Services

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s stock in a transaction on 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 is accessible through this link. In other news, COO James Redgie Probst sold 34,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the completion of the transaction, the chief operating officer now directly owns 29,002 shares in the company, valued at $7,541,390.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company’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 in the company, valued at approximately $5,490,297.98. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Trading Up 1.7 %

PWR stock traded up $4.49 on Thursday, reaching $267.96. The company’s stock had a trading volume of 584,574 shares, compared to its average volume of 959,478. The firm has a market cap of $39.23 billion, a PE ratio of 51.93 and a beta of 1.03. The business has a fifty day simple moving average of $261.44 and a two-hundred day simple moving average of $252.08. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $286.87. 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 EPS for the quarter, topping the consensus estimate of $1.75 by $0.15. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The firm had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period last year, the company posted $1.47 EPS. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, research analysts forecast that Quanta Services, Inc. will post 7.71 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Monday, July 1st were issued a dividend of $0.09 per share. The ex-dividend date was Monday, July 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.13%. Quanta Services’s dividend payout ratio (DPR) is 6.98%.

Quanta Services 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.