Quanta Services, Inc. (NYSE:PWR) Shares Purchased by Wellington Shields Capital Management LLC

Wellington Shields Capital Management LLC raised its stake in Quanta Services, Inc. (NYSE:PWR) by 0.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,689 shares of the construction company’s stock after acquiring an additional 90 shares during the quarter. Quanta Services makes up approximately 0.9% of Wellington Shields Capital Management LLC’s investment portfolio, making the stock its 24th largest position. Wellington Shields Capital Management LLC’s holdings in Quanta Services were worth $4,749,000 at the end of the most recent reporting period.

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

Quanta Services Price Performance

Shares of Quanta Services stock traded up $2.57 on Friday, hitting $253.96. 24,007 shares of the company were exchanged, compared to its average volume of 928,045. 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 company has a 50-day moving average price of $259.45 and a 200 day moving average price of $258.58. The stock has a market capitalization of $37.42 billion, a price-to-earnings ratio of 48.72 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 released its quarterly earnings data 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. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The company had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the previous year, the company posted $1.47 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, sell-side analysts predict that Quanta Services, Inc. will post 7.78 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently disclosed 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. This represents a $0.36 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend is Tuesday, October 1st. Quanta Services’s payout ratio is currently 6.98%.

Insiders Place Their Bets

In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 21,286 shares in the company, valued at approximately $5,490,297.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, 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 sale, the insider now directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the 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 approximately $5,490,297.98. The disclosure for this sale can be found here. Insiders have sold 202,357 shares of company stock valued at $53,115,572 over the last ninety days. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on PWR shares. Citigroup raised their price objective on Quanta Services from $299.00 to $302.00 and gave the company a “buy” rating in a report on Monday, July 22nd. B. Riley boosted their price target on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Northland Securities increased their price objective on shares of Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Argus boosted their target price 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, Robert W. Baird raised their price target on shares of Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $284.50.

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.