Sycomore Asset Management Has $4.68 Million Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Sycomore Asset Management trimmed its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 19.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,545 shares of the construction company's stock after selling 4,280 shares during the period. Sycomore Asset Management's holdings in Quanta Services were worth $4,677,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PWR. EntryPoint Capital LLC acquired a new position in shares of Quanta Services during the first quarter valued at $25,000. Private Ocean LLC bought a new position in Quanta Services during the first quarter valued at about $26,000. Salomon & Ludwin LLC bought a new position in Quanta Services during the first quarter valued at about $26,000. Cambridge Trust Co. bought a new position in Quanta Services during the first quarter valued at about $26,000. Finally, Valley Wealth Managers Inc. bought a new position in Quanta Services during the second quarter valued at about $33,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Down 0.7 %

Quanta Services stock traded down $2.01 during mid-day trading on Tuesday, hitting $296.05. The company's stock had a trading volume of 603,543 shares, compared to its average volume of 914,114. The firm's 50 day moving average is $266.79 and its 200 day moving average is $264.05. The company has a market cap of $43.34 billion, a PE ratio of 57.50 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $306.50.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results 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. The company had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The business's quarterly revenue was up 10.8% on a year-over-year basis. During the same period last year, the business earned $1.47 EPS. On average, analysts anticipate that Quanta Services, Inc. will post 7.82 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. Stockholders of record on Tuesday, October 1st will be issued 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 dividend yield of 0.12%. Quanta Services's dividend payout ratio is currently 6.98%.

Analysts Set New Price Targets

PWR has been the subject of several research reports. Wolfe Research initiated coverage on Quanta Services in a research note on Thursday, September 19th. They set an "outperform" rating and a $313.00 target price for the company. Robert W. Baird raised their target price on Quanta Services from $287.00 to $288.00 and gave the company an "outperform" rating in a research note on Friday, July 19th. Northland Securities increased their price target on Quanta Services from $264.00 to $280.00 and gave the company an "outperform" rating in a research report on Friday, August 2nd. 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 report on Friday, August 2nd. Finally, Jefferies Financial Group assumed coverage on Quanta Services in a research report on Wednesday, September 4th. They issued a "hold" rating and a $256.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Quanta Services currently has an average rating of "Moderate Buy" and an average target price of $286.69.

Insider Buying and Selling

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm's 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 in the company, valued at $5,490,297.98. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm's 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 in the company, valued at $5,490,297.98. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Karl W. Studer sold 23,357 shares of the firm'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 transaction, the insider now owns 10,631 shares in the company, valued at $2,875,791.81. The disclosure for this sale can be found here. Over the last three months, insiders sold 202,357 shares of company stock worth $53,115,572. Corporate insiders own 1.10% of the company's stock.

Quanta Services Company 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.