Malaga Cove Capital LLC Has $4.66 Million Stake in Quanta Services, Inc. (NYSE:PWR)

Malaga Cove Capital LLC decreased its position in Quanta Services, Inc. (NYSE:PWR) by 2.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,624 shares of the construction company’s stock after selling 320 shares during the quarter. Quanta Services makes up approximately 1.9% of Malaga Cove Capital LLC’s portfolio, making the stock its 8th largest holding. Malaga Cove Capital LLC’s holdings in Quanta Services were worth $4,658,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in Quanta Services by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock valued at $4,245,452,000 after buying an additional 105,355 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Quanta Services by 2.4% in the first quarter. JPMorgan Chase & Co. now owns 6,760,260 shares of the construction company’s stock worth $1,756,316,000 after acquiring an additional 156,627 shares during the last quarter. Capital World Investors increased its position in Quanta Services by 10.7% during the first quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock worth $1,726,042,000 after acquiring an additional 643,011 shares during the period. Electron Capital Partners LLC boosted its holdings in Quanta Services by 395.1% in the 2nd quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after purchasing an additional 2,092,519 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in Quanta Services by 17.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock worth $313,968,000 after purchasing an additional 186,306 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. initiated coverage on shares of Quanta Services in a research report on Monday, October 7th. They set a “neutral” rating and a $297.00 price objective for the company. Truist Financial raised their price objective on Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Stifel Nicolaus boosted their price objective on Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. B. Riley raised their target price on Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Jefferies Financial Group began coverage on shares of Quanta Services in a report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $314.27.

Insider Transactions at Quanta Services

In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business’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 completion of the transaction, the insider now owns 21,286 shares in the company, valued at $5,490,297.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Karl W. Studer sold 23,357 shares of Quanta Services 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 sale, the insider now owns 10,631 shares in the company, valued at $2,875,791.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were 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 $5,490,297.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 202,357 shares of company stock worth $53,115,572. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Stock Performance

NYSE:PWR opened at $310.82 on Thursday. The stock has a market capitalization of $45.88 billion, a P/E ratio of 57.35 and a beta of 1.01. Quanta Services, Inc. has a 1 year low of $163.93 and a 1 year high of $317.91. The firm has a 50 day moving average of $292.81 and a 200-day moving average of $274.22. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the previous year, the firm earned $2.08 earnings per share. The business’s revenue was up 15.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 7.83 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services’s dividend payout ratio is presently 6.64%.

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.