Harbour Investments Inc. Acquires 155 Shares of Quanta Services, Inc. (NYSE:PWR)

Harbour Investments Inc. lifted its position in shares of Quanta Services, Inc. (NYSE:PWR) by 4.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,065 shares of the construction company’s stock after purchasing an additional 155 shares during the quarter. Harbour Investments Inc.’s holdings in Quanta Services were worth $1,033,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. EntryPoint Capital LLC purchased a new position in Quanta Services in the 1st quarter worth $25,000. Private Ocean LLC purchased a new position in Quanta Services in the 1st quarter worth $26,000. Salomon & Ludwin LLC purchased a new position in Quanta Services in the 1st quarter worth $26,000. Cambridge Trust Co. purchased a new position in Quanta Services in the 1st quarter worth $26,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Quanta Services during the 2nd quarter valued at about $38,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Insider Buying and Selling

In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company’s stock in a transaction 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 directly owns 21,286 shares of the company’s stock, valued at approximately $5,490,297.98. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related 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 value of $6,318,302.07. Following the transaction, the insider now directly owns 10,631 shares of the company’s stock, valued at $2,875,791.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business’s stock in a transaction on 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 completion of the sale, the insider now directly owns 21,286 shares in the company, valued at approximately $5,490,297.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 202,357 shares of company stock valued at $53,115,572. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on PWR. Truist Financial reiterated a “buy” rating and set a $319.00 price objective (up previously from $305.00) on shares of Quanta Services in a research note on Monday, August 5th. The Goldman Sachs Group lifted their price target on Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Evercore ISI boosted their target price on Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. DA Davidson boosted their target price on Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Finally, B. Riley lifted their price target on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and an average target price of $287.09.

Quanta Services Price Performance

NYSE PWR traded down $0.98 during trading on Wednesday, reaching $269.38. 237,826 shares of the company traded hands, compared to its average volume of 934,658. The company has a market cap of $39.43 billion, a price-to-earnings ratio of 52.24 and a beta of 1.03. 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 1-year low of $153.74 and a 1-year high of $286.87. The stock’s 50 day moving average price is $260.57 and its two-hundred day moving average price is $256.61.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.15. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The company had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the previous year, the business earned $1.47 EPS. The firm’s revenue was up 10.8% on a year-over-year basis. As a group, analysts anticipate that Quanta Services, Inc. will post 7.72 EPS for the current year.

About Quanta Services

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.