Quanta Services, Inc. (NYSE:PWR) Shares Sold by Cascade Investment Group Inc.

Cascade Investment Group Inc. trimmed its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 2.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,593 shares of the construction company’s stock after selling 76 shares during the period. Cascade Investment Group Inc.’s holdings in Quanta Services were worth $659,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PWR. EntryPoint Capital LLC acquired a new position in Quanta Services during the first quarter valued at approximately $25,000. Private Ocean LLC acquired a new position in shares of Quanta Services during the first quarter worth $26,000. Salomon & Ludwin LLC acquired a new position in shares of Quanta Services during the first quarter worth $26,000. Cambridge Trust Co. acquired a new position in shares of Quanta Services during the first quarter worth $26,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Quanta Services in the fourth quarter worth $34,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 21,286 shares in the company, valued at approximately $5,490,297.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Quanta Services news, COO James Redgie Probst sold 34,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $260.03, for a total value of $8,841,020.00. Following the completion of the transaction, the chief operating officer now directly owns 29,002 shares in the company, valued at $7,541,390.06. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 completion of the transaction, the insider now owns 21,286 shares of the company’s stock, valued at $5,490,297.98. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PWR shares. TD Cowen lifted their price target on shares of Quanta Services from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Argus increased their target price on shares of Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Northland Securities increased their target price on shares of Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. The Goldman Sachs Group increased their target price on shares of Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Finally, DA Davidson increased their target price on shares of Quanta Services from $225.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and an average target price of $287.09.

Quanta Services Stock Performance

Shares of PWR stock traded up $1.47 during trading hours on Wednesday, reaching $263.47. The stock had a trading volume of 776,295 shares, compared to its average volume of 961,881. The firm has a 50-day simple moving average of $261.44 and a 200-day simple moving average of $252.08. The firm has a market capitalization of $38.82 billion, a PE ratio of 51.06 and a beta of 1.03. 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 twelve month low of $153.74 and a twelve month high of $286.87.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. The firm had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. Quanta Services’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.47 EPS. As a group, equities analysts forecast that Quanta Services, Inc. will post 7.71 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Monday, July 1st were given a $0.09 dividend. The ex-dividend date of this dividend was Monday, July 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. Quanta Services’s dividend payout ratio is presently 6.98%.

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.