Quanta Services, Inc. (NYSE:PWR) Shares Purchased by Diversified LLC

Diversified LLC grew its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 21.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,099 shares of the construction company’s stock after buying an additional 192 shares during the period. Diversified LLC’s holdings in Quanta Services were worth $279,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Quanta Services by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock worth $4,245,452,000 after acquiring an additional 105,355 shares during the period. JPMorgan Chase & Co. lifted its position in Quanta Services by 2.4% during the 1st 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 period. Capital World Investors raised its stake in shares of Quanta Services by 10.7% during the 1st quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock worth $1,726,042,000 after buying an additional 643,011 shares in the last quarter. Artisan Partners Limited Partnership raised its stake in shares of Quanta Services by 384.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock worth $526,261,000 after buying an additional 1,935,786 shares in the last quarter. Finally, Norges Bank purchased a new position in Quanta Services in the 4th quarter valued at approximately $335,777,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Quanta Services

In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction 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 transaction, the insider now owns 21,286 shares in the company, valued at approximately $5,490,297.98. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Quanta Services news, COO James Redgie Probst sold 34,000 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $260.03, for a total value of $8,841,020.00. Following the sale, the chief operating officer now directly owns 29,002 shares in the company, valued at approximately $7,541,390.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’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 transaction, the insider now directly owns 21,286 shares of the company’s stock, valued at $5,490,297.98. The disclosure for this sale can be found here. Insiders have sold a total of 202,357 shares of company stock worth $53,115,572 in the last 90 days. 1.10% of the stock is owned by insiders.

Quanta Services Stock Performance

PWR stock traded up $5.37 during midday trading on Friday, reaching $273.17. The company had a trading volume of 504,110 shares, compared to its average volume of 945,343. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45. The stock has a 50 day moving average price of $260.90 and a 200 day moving average price of $255.07. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $286.87. The firm has a market capitalization of $39.99 billion, a PE ratio of 52.97 and a beta of 1.03.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates 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%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the firm posted $1.47 earnings per share. Analysts anticipate that Quanta Services, Inc. will post 7.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on PWR shares. DA Davidson raised their price objective on Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Evercore ISI raised their price objective on Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. Northland Securities increased their target price on Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. B. Riley increased their target price on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Robert W. Baird increased their target price on Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $287.09.

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.