6,594 Shares in Quanta Services, Inc. (NYSE:PWR) Acquired by Virtu Financial LLC

Virtu Financial LLC acquired a new stake in Quanta Services, Inc. (NYSE:PWR) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 6,594 shares of the construction company’s stock, valued at approximately $1,675,000.

Other institutional investors have also recently modified their holdings of the company. EntryPoint Capital LLC acquired a new position in shares of Quanta Services in the 1st quarter valued at approximately $25,000. Private Ocean LLC bought a new position in Quanta Services in the first quarter valued at approximately $26,000. Salomon & Ludwin LLC acquired a new position in Quanta Services during the first quarter valued at approximately $26,000. Cambridge Trust Co. bought a new stake in Quanta Services during the first quarter worth $26,000. Finally, Valley Wealth Managers Inc. acquired a new stake in shares of Quanta Services in the 2nd quarter valued at $33,000. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Price Performance

Shares of PWR opened at $273.92 on Wednesday. The business has a 50-day moving average of $260.55 and a 200-day moving average of $260.58. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. The company has a market capitalization of $40.36 billion, a price-to-earnings ratio of 53.09 and a beta of 1.01. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $286.87.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the firm posted $1.47 EPS. The company’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, equities research analysts anticipate that Quanta Services, Inc. will post 7.82 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be given a dividend of $0.09 per share. The ex-dividend date is Tuesday, October 1st. This represents a $0.36 annualized dividend and a dividend yield of 0.13%. Quanta Services’s payout ratio is 6.98%.

Insider Buying and Selling

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the transaction, the insider now directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $5,490,297.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Karl W. Studer sold 23,357 shares of the business’s stock in a transaction dated 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 disclosure for this sale can be found here. Insiders sold 202,357 shares of company stock valued at $53,115,572 over the last 90 days. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

PWR has been the subject of several recent 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. Jefferies Financial Group assumed coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price target on the stock. Truist Financial reiterated a “buy” rating and set a $319.00 price objective (up from $305.00) on shares of Quanta Services in a research report on Monday, August 5th. TD Cowen raised their target price on shares of Quanta Services from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, Robert W. Baird upped their price target on shares of Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $284.50.

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.