Quanta Services, Inc. (NYSE:PWR) Shares Sold by Ballentine Partners LLC

Ballentine Partners LLC trimmed its holdings in Quanta Services, Inc. (NYSE:PWR) by 5.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,046 shares of the construction company’s stock after selling 184 shares during the period. Ballentine Partners LLC’s holdings in Quanta Services were worth $774,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. EntryPoint Capital LLC purchased a new position in shares of Quanta Services during the 1st quarter worth approximately $25,000. Private Ocean LLC purchased a new position in Quanta Services during the first quarter worth $26,000. Salomon & Ludwin LLC acquired a new position in shares of Quanta Services in the first quarter worth $26,000. Cambridge Trust Co. purchased a new stake in shares of Quanta Services in the first quarter valued at $26,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Quanta Services during the fourth quarter valued at $34,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PWR. B. Riley upped their target price on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Jefferies Financial Group assumed coverage on shares of Quanta Services in a research report on Wednesday, September 4th. They set a “hold” rating and a $256.00 target price on the stock. Argus boosted their price target on Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, May 30th. The Goldman Sachs Group lifted their price objective on Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Finally, Robert W. Baird increased their target price on Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Four 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 has a consensus rating of “Moderate Buy” and a consensus target price of $284.50.

Insider Buying and Selling at Quanta Services

In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company’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 completion of the sale, the insider now owns 21,286 shares of the company’s stock, valued at $5,490,297.98. The sale 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 company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $257.93, for a total value of $3,868,950.00. Following the completion of the transaction, the insider now directly owns 21,286 shares in the company, valued at $5,490,297.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO James Redgie Probst sold 34,000 shares of Quanta Services 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 sale, the chief operating officer now directly owns 29,002 shares in the company, valued at approximately $7,541,390.06. 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 three months. 1.10% of the stock is owned by company insiders.

Quanta Services Stock Performance

Quanta Services stock opened at $250.06 on Tuesday. The company has a market cap of $36.84 billion, a price-to-earnings ratio of 48.46 and a beta of 1.01. 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 current ratio of 1.30 and a quick ratio of 1.25. The stock’s 50-day moving average is $259.38 and its 200-day moving average is $259.64.

Quanta Services (NYSE:PWR) last posted 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 net margin of 3.59% and a return on equity of 16.29%. The firm had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the firm posted $1.47 earnings per share. Quanta Services’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities analysts anticipate that Quanta Services, Inc. will post 7.8 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.14%. Quanta Services’s dividend payout ratio (DPR) is 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.