Financial Partners Group Inc Has $706,000 Holdings in Quanta Services, Inc. (NYSE:PWR)

Financial Partners Group Inc increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 3.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,780 shares of the construction company’s stock after purchasing an additional 92 shares during the quarter. Financial Partners Group Inc’s holdings in Quanta Services were worth $706,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Westside Investment Management Inc. raised its stake in shares of Quanta Services by 20.5% during the 2nd quarter. Westside Investment Management Inc. now owns 241 shares of the construction company’s stock worth $61,000 after purchasing an additional 41 shares in the last quarter. Terra Nova Asset Management LLC raised its position in Quanta Services by 0.4% during the second quarter. Terra Nova Asset Management LLC now owns 12,741 shares of the construction company’s stock worth $3,237,000 after acquiring an additional 46 shares in the last quarter. Wedmont Private Capital lifted its stake in Quanta Services by 1.0% in the 1st quarter. Wedmont Private Capital now owns 4,674 shares of the construction company’s stock valued at $1,198,000 after purchasing an additional 47 shares during the last quarter. Checchi Capital Advisers LLC lifted its position in shares of Quanta Services by 4.6% in the fourth quarter. Checchi Capital Advisers LLC now owns 1,367 shares of the construction company’s stock valued at $295,000 after buying an additional 60 shares during the last quarter. Finally, ARS Investment Partners LLC boosted its stake in shares of Quanta Services by 1.3% during the 2nd quarter. ARS Investment Partners LLC now owns 4,814 shares of the construction company’s stock worth $1,223,000 after acquiring an additional 60 shares during the period. Institutional investors own 90.49% of the company’s stock.

Insider Buying and Selling

In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $257.93, for a total value of $3,868,950.00. Following 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 Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business’s 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO James Redgie Probst sold 34,000 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the transaction, the chief operating officer now directly owns 29,002 shares in the company, valued at $7,541,390.06. The disclosure for this sale can be found here. Insiders sold 179,000 shares of company stock valued at $46,797,270 over the last quarter. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Northland Securities lifted their target price on shares of Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. 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 report on Monday, August 5th. TD Cowen upped their price target on shares of Quanta Services from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Argus lifted their price objective on shares of Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Finally, Evercore ISI boosted their price objective on shares of Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $287.09.

Quanta Services Trading Down 0.8 %

Shares of NYSE:PWR traded down $2.05 during midday trading on Friday, hitting $265.89. 544,061 shares of the stock were exchanged, compared to its average volume of 1,118,593. The business’s 50-day moving average price is $261.39 and its 200 day moving average price is $253.05. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $286.87. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30. The stock has a market capitalization of $39.17 billion, a price-to-earnings ratio of 51.53 and a beta of 1.03.

Quanta Services (NYSE:PWR) last released 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 firm had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter last year, the firm earned $1.47 earnings per share. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Analysts predict that Quanta Services, Inc. will post 7.72 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Monday, July 1st were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend was Monday, July 1st. Quanta Services’s dividend payout ratio (DPR) is presently 6.98%.

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.