Karl W. Studer Sells 23,357 Shares of Quanta Services, Inc. (NYSE:PWR) Stock

Quanta Services, Inc. (NYSE:PWR) insider Karl W. Studer sold 23,357 shares of the stock in a transaction on 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 directly owns 10,631 shares of the company’s stock, valued at $2,875,791.81. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Quanta Services Price Performance

Shares of NYSE:PWR traded up $5.51 on Friday, hitting $273.31. The company’s stock had a trading volume of 503,596 shares, compared to its average volume of 945,343. The company has a 50-day simple moving average of $260.90 and a 200 day simple moving average of $254.58. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $286.87. The company has a market capitalization of $40.27 billion, a PE ratio of 53.07 and a beta of 1.03. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25.

Quanta Services (NYSE:PWR) last released its quarterly 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 for the quarter, compared to analysts’ expectations of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.47 EPS. Sell-side analysts forecast that Quanta Services, Inc. will post 7.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Quanta Services

A number of large investors have recently modified their holdings of PWR. EntryPoint Capital LLC purchased a new position in shares of Quanta Services during the 1st quarter valued at about $25,000. Private Ocean LLC purchased a new position in shares of Quanta Services during the 1st quarter valued at about $26,000. Salomon & Ludwin LLC purchased a new position in shares of Quanta Services during the 1st quarter valued at about $26,000. Cambridge Trust Co. bought a new position in Quanta Services during the 1st quarter worth approximately $26,000. Finally, Valley Wealth Managers Inc. bought a new position in Quanta Services during the 2nd quarter worth approximately $33,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Argus upped their price objective on Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. The Goldman Sachs Group increased their price target on Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Northland Securities increased their price target on Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Truist Financial reiterated 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. Finally, DA Davidson increased their price target on Quanta Services from $225.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $287.09.

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.