Sanctuary Advisors LLC Makes New $10.18 Million Investment in Quanta Services, Inc. (NYSE:PWR)

Sanctuary Advisors LLC purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 38,916 shares of the construction company's stock, valued at approximately $10,183,000.

Other institutional investors have also recently bought and sold shares of the company. EP Wealth Advisors LLC increased its stake in Quanta Services by 0.6% in the 2nd quarter. EP Wealth Advisors LLC now owns 6,994 shares of the construction company's stock valued at $1,777,000 after buying an additional 39 shares during the last quarter. Westside Investment Management Inc. grew its stake in Quanta Services by 20.5% in 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 increased its position in shares of Quanta Services by 5.0% during the 2nd quarter. Ameritas Advisory Services LLC now owns 876 shares of the construction company's stock valued at $223,000 after purchasing an additional 42 shares during the last quarter. Aspen Investment Management Inc raised its stake in shares of Quanta Services by 3.7% during the 2nd quarter. Aspen Investment Management Inc now owns 1,254 shares of the construction company's stock worth $319,000 after purchasing an additional 45 shares during the period. Finally, Terra Nova Asset Management LLC boosted its holdings in shares of Quanta Services by 0.4% in the 2nd quarter. Terra Nova Asset Management LLC now owns 12,741 shares of the construction company's stock worth $3,237,000 after buying an additional 46 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Price Performance

NYSE:PWR traded up $7.32 during trading hours on Friday, hitting $305.72. 618,436 shares of the stock traded hands, compared to its average volume of 909,987. The stock has a 50 day moving average price of $269.36 and a 200 day moving average price of $264.90. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $306.50. The company has a market cap of $44.75 billion, a price-to-earnings ratio of 58.85 and a beta of 1.01. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, topping analysts' consensus estimates of $1.75 by $0.15. The firm had revenue of $5.59 billion during the quarter, compared to analysts' expectations of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The firm's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.47 EPS. Sell-side analysts forecast that Quanta Services, Inc. will post 7.82 EPS for the current fiscal year.

Quanta Services Dividend Announcement

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 paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services's payout ratio is 6.98%.

Insider Buying and Selling at Quanta Services

In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm'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 sale, the insider now owns 21,286 shares in the company, valued at approximately $5,490,297.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Karl W. Studer sold 23,357 shares of the company's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the completion of the transaction, the insider now owns 10,631 shares in the company, valued at $2,875,791.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services 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 in the company, valued at approximately $5,490,297.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 202,357 shares of company stock worth $53,115,572. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PWR has been the subject of several recent research reports. B. Riley lifted their price objective on Quanta Services from $286.00 to $303.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. Robert W. Baird raised their price objective on shares of Quanta Services from $287.00 to $288.00 and gave the stock an "outperform" rating in a report on Friday, July 19th. Citigroup boosted their target price on shares of Quanta Services from $302.00 to $348.00 and gave the company a "buy" rating in a report on Friday. Northland Securities increased their target price on Quanta Services from $264.00 to $280.00 and gave the stock an "outperform" rating in a research report on Friday, August 2nd. Finally, Truist Financial reiterated a "buy" rating and issued a $319.00 price target (up from $305.00) on shares of Quanta Services in a research report on Monday, August 5th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $290.23.

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.