Pinion Investment Advisors LLC Has $462,000 Stock Position in Quanta Services, Inc. (NYSE:PWR)

Pinion Investment Advisors LLC increased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 9.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,819 shares of the construction company’s stock after acquiring an additional 162 shares during the quarter. Pinion Investment Advisors LLC’s holdings in Quanta Services were worth $462,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Westside Investment Management Inc. lifted its position in Quanta Services by 20.5% during the 2nd quarter. Westside Investment Management Inc. now owns 241 shares of the construction company’s stock valued at $61,000 after purchasing an additional 41 shares during the period. Ameritas Advisory Services LLC raised its stake in shares of Quanta Services by 5.0% during the second quarter. Ameritas Advisory Services LLC now owns 876 shares of the construction company’s stock worth $223,000 after buying an additional 42 shares during the last quarter. Aspen Investment Management Inc lifted its holdings in Quanta Services by 3.7% in the second quarter. Aspen Investment Management Inc now owns 1,254 shares of the construction company’s stock valued at $319,000 after buying an additional 45 shares during the period. Terra Nova Asset Management LLC boosted its stake in Quanta Services by 0.4% in the second quarter. Terra Nova Asset Management LLC now owns 12,741 shares of the construction company’s stock valued at $3,237,000 after acquiring an additional 46 shares during the last quarter. Finally, Wedmont Private Capital grew its holdings in Quanta Services by 1.0% during the 1st quarter. Wedmont Private Capital now owns 4,674 shares of the construction company’s stock worth $1,198,000 after acquiring an additional 47 shares during the period. Institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PWR. B. Riley increased 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. Truist Financial reissued a “buy” rating and issued a $319.00 target price (up previously from $305.00) on shares of Quanta Services in a research note on Monday, August 5th. The Goldman Sachs Group increased their price target on shares of Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Citigroup raised their price objective on Quanta Services from $299.00 to $302.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, Jefferies Financial Group began coverage on Quanta Services in a report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $284.50.

Quanta Services Trading Up 0.4 %

Quanta Services stock opened at $269.54 on Friday. 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 firm has a 50-day moving average of $260.21 and a 200-day moving average of $260.07. The company has a market cap of $39.71 billion, a price-to-earnings ratio of 52.24 and a beta of 1.01. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $286.87.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.75 by $0.15. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The firm had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the prior year, the firm posted $1.47 earnings per share. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, equities analysts expect that Quanta Services, Inc. will post 7.82 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend is Tuesday, October 1st. Quanta Services’s dividend payout ratio is currently 6.98%.

Insider Activity

In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total value of $34,087,300.00. Following the completion of the sale, the chief executive officer now directly owns 593,402 shares in the company, valued at approximately $155,595,938.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the sale, the insider now owns 10,631 shares in the company, valued at approximately $2,875,791.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the transaction, the chief executive officer now directly owns 593,402 shares of the company’s stock, valued at $155,595,938.42. The disclosure for this sale can be found here. Insiders sold a total of 202,357 shares of company stock valued at $53,115,572 in the last quarter. Company insiders own 1.10% of the company’s stock.

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.