Summit Global Investments lifted its holdings in Quanta Services Inc (NYSE:PWR) by 4.4% during the first quarter, HoldingsChannel.com reports. The firm owned 154,154 shares of the construction company’s stock after purchasing an additional 6,554 shares during the period. Summit Global Investments’ holdings in Quanta Services were worth $5,818,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of PWR. Peddock Capital Advisors LLC raised its holdings in Quanta Services by 20.6% in the 1st quarter. Peddock Capital Advisors LLC now owns 17,805 shares of the construction company’s stock valued at $672,000 after acquiring an additional 3,044 shares during the period. SRB Corp boosted its position in Quanta Services by 21.0% in the first quarter. SRB Corp now owns 20,011 shares of the construction company’s stock valued at $755,000 after buying an additional 3,475 shares in the last quarter. GYL Financial Synergies LLC acquired a new stake in Quanta Services in the first quarter valued at approximately $396,000. Meiji Yasuda Life Insurance Co bought a new position in shares of Quanta Services during the first quarter valued at $242,000. Finally, Meiji Yasuda Asset Management Co Ltd. bought a new position in Quanta Services during the first quarter worth $212,000. Institutional investors and hedge funds own 94.89% of the company’s stock.
Shares of PWR traded down $0.35 during midday trading on Friday, hitting $37.60. The company had a trading volume of 16,276 shares, compared to its average volume of 1,428,707. The stock has a market capitalization of $5.30 billion, a PE ratio of 15.00 and a beta of 1.16. Quanta Services Inc has a 1 year low of $27.90 and a 1 year high of $41.00. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.95 and a current ratio of 2.00.
Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, May 2nd. The construction company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.13. Quanta Services had a return on equity of 12.71% and a net margin of 3.25%. The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter in the previous year, the company posted $0.40 EPS. The business’s revenue was up 16.1% on a year-over-year basis. Analysts predict that Quanta Services Inc will post 3.36 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Friday, June 28th. Quanta Services’s dividend payout ratio is currently 6.32%.
In other news, insider James Redgie Probst sold 100,000 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $40.00, for a total value of $4,000,000.00. Following the completion of the sale, the insider now owns 47,420 shares of the company’s stock, valued at $1,896,800. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bernard Fried sold 4,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $36.63, for a total value of $146,520.00. Following the completion of the sale, the director now directly owns 8,953 shares of the company’s stock, valued at approximately $327,948.39. The disclosure for this sale can be found here. Insiders sold 104,445 shares of company stock valued at $4,162,180 in the last three months. 1.20% of the stock is currently owned by company insiders.
Several brokerages have commented on PWR. Citigroup set a $46.00 price objective on shares of Quanta Services and gave the stock a “buy” rating in a report on Friday, February 22nd. Zacks Investment Research upgraded shares of Quanta Services from a “sell” rating to a “hold” rating and set a $41.00 target price on the stock in a research note on Monday, February 25th. B. Riley restated a “buy” rating and issued a $47.00 price target (down previously from $56.00) on shares of Quanta Services in a research report on Monday, March 11th. Finally, DA Davidson lowered shares of Quanta Services from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 16th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Quanta Services has an average rating of “Hold” and a consensus price target of $42.80.
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Quanta Services Company Profile
Quanta Services, Inc provides specialty contracting services in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment designs, installs, upgrades, repairs, and maintains electric power transmission and distribution infrastructure, and substation facilities, as well as provides other engineering and technical services; designs, installs, maintains, and repairs commercial and industrial wiring; and operates a postsecondary educational institution.
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