Insider Selling: Quanta Services, Inc. (NYSE:PWR) COO Sells $8,841,020.00 in Stock

Quanta Services, Inc. (NYSE:PWR) COO James Redgie Probst sold 34,000 shares of the business’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 transaction, the chief operating officer now owns 29,002 shares of the company’s stock, valued at approximately $7,541,390.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Quanta Services Price Performance

NYSE PWR traded up $1.96 during trading hours on Tuesday, reaching $262.00. The company’s stock had a trading volume of 699,407 shares, compared to its average volume of 963,077. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30. The company’s 50-day moving average is $261.85 and its two-hundred day moving average is $251.53. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $286.87. The stock has a market cap of $38.35 billion, a PE ratio of 49.87 and a beta of 1.03.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, beating 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 firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.47 EPS. Analysts forecast that Quanta Services, Inc. will post 7.71 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Monday, July 1st were issued a $0.09 dividend. The ex-dividend date of this dividend was Monday, July 1st. This represents a $0.36 annualized dividend and a yield of 0.14%. Quanta Services’s dividend payout ratio (DPR) is presently 6.98%.

Wall Street Analyst Weigh In

PWR has been the subject of several analyst reports. Argus upped their price objective on Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. B. Riley lifted their price objective on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Northland Securities lifted their price objective on shares of Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Evercore ISI lifted their target price on shares of Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $319.00 price objective (up previously from $305.00) on shares of Quanta Services in a report on Monday, August 5th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $287.09.

Institutional Investors Weigh In On Quanta Services

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Westside Investment Management Inc. lifted its holdings in shares of Quanta Services by 20.5% during the 2nd quarter. Westside Investment Management Inc. now owns 241 shares of the construction company’s stock worth $61,000 after acquiring an additional 41 shares during the period. Ameritas Advisory Services LLC raised its stake in Quanta Services by 5.0% during the second 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 period. Aspen Investment Management Inc boosted its holdings 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 during the last quarter. Terra Nova Asset Management LLC grew 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 period. Finally, Wedmont Private Capital increased its holdings in shares of Quanta Services by 1.0% during the 1st 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 during the last quarter. Hedge funds and other institutional investors own 90.49% 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.