Quanta Services, Inc. (NYSE:PWR) Shares Sold by Lmcg Investments LLC

Lmcg Investments LLC lowered its stake in Quanta Services, Inc. (NYSE:PWR) by 4.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 61,268 shares of the construction company’s stock after selling 2,901 shares during the quarter. Quanta Services comprises 0.9% of Lmcg Investments LLC’s portfolio, making the stock its 23rd largest position. Lmcg Investments LLC’s holdings in Quanta Services were worth $15,568,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Westside Investment Management Inc. boosted its position in Quanta Services by 20.5% in the 2nd quarter. Westside Investment Management Inc. now owns 241 shares of the construction company’s stock valued at $61,000 after buying an additional 41 shares during the last quarter. Ameritas Advisory Services LLC increased its holdings in Quanta Services by 5.0% during the 2nd quarter. Ameritas Advisory Services LLC now owns 876 shares of the construction company’s stock worth $223,000 after purchasing an additional 42 shares during the last quarter. Aspen Investment Management Inc raised its position in shares of Quanta Services by 3.7% in the 2nd quarter. Aspen Investment Management Inc now owns 1,254 shares of the construction company’s stock valued at $319,000 after purchasing an additional 45 shares in the last quarter. Terra Nova Asset Management LLC boosted its stake in shares of Quanta Services by 0.4% during the 2nd quarter. Terra Nova Asset Management LLC now owns 12,741 shares of the construction company’s stock valued at $3,237,000 after buying an additional 46 shares during the last quarter. Finally, Wedmont Private Capital grew its position in shares of Quanta Services by 1.0% during the first quarter. Wedmont Private Capital now owns 4,674 shares of the construction company’s stock worth $1,198,000 after buying an additional 47 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Quanta Services

In related news, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total value of $6,318,302.07. Following the completion of the sale, the insider now owns 10,631 shares of the company’s stock, valued at $2,875,791.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 10,631 shares in the company, 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. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s 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 directly owns 593,402 shares of the company’s stock, valued at $155,595,938.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is currently owned by corporate insiders.

Quanta Services Stock Up 0.8 %

Quanta Services stock opened at $271.59 on Tuesday. 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, Inc. has a one year low of $153.74 and a one year high of $286.87. The company has a 50-day simple moving average of $260.21 and a 200-day simple moving average of $260.37. The firm has a market capitalization of $40.01 billion, a P/E ratio of 52.63 and a beta of 1.01.

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. The firm had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. Quanta Services’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.47 EPS. As a group, equities analysts expect that Quanta Services, Inc. will post 7.82 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.13%. Quanta Services’s dividend payout ratio (DPR) is presently 6.98%.

Analyst Ratings Changes

PWR has been the subject of several research analyst reports. Argus boosted their target price on shares of Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. TD Cowen upped 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. Citigroup lifted their target price on Quanta Services from $299.00 to $302.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. The Goldman Sachs Group upped their price target 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, B. Riley lifted their price objective on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has an average 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.