Quanta Services, Inc. (NYSE:PWR) Insider Karl W. Studer Sells 23,357 Shares of Stock

Quanta Services, Inc. (NYSE:PWR) insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction that occurred on 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 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 Securities & Exchange Commission, which is available through this hyperlink.

Quanta Services Stock Performance

NYSE PWR opened at $273.31 on Friday. The business’s 50 day moving average price is $260.90 and its 200-day moving average price is $255.07. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $286.87. The company has a market cap of $40.01 billion, a P/E ratio of 52.97 and a beta of 1.03. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, topping 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 company had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same period in the previous year, the firm earned $1.47 earnings per share. Quanta Services’s quarterly revenue was up 10.8% compared to the same quarter last year. Sell-side analysts predict that Quanta Services, Inc. will post 7.72 earnings per share for the current year.

Hedge Funds Weigh In On Quanta Services

Several hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its stake in shares of Quanta Services by 28,538.4% during the fourth quarter. International Assets Investment Management LLC now owns 91,070 shares of the construction company’s stock valued at $19,653,000 after buying an additional 90,752 shares during the last quarter. CWM LLC increased its stake in Quanta Services by 16.6% in the fourth quarter. CWM LLC now owns 4,843 shares of the construction company’s stock worth $1,045,000 after purchasing an additional 690 shares during the period. New York State Common Retirement Fund lifted its position in shares of Quanta Services by 14.1% during the fourth quarter. New York State Common Retirement Fund now owns 141,433 shares of the construction company’s stock worth $30,521,000 after purchasing an additional 17,516 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Quanta Services during the fourth quarter valued at $236,000. Finally, AM Investment Strategies LLC grew its holdings in shares of Quanta Services by 12.6% in the fourth quarter. AM Investment Strategies LLC now owns 3,581 shares of the construction company’s stock worth $773,000 after purchasing an additional 400 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PWR has been the topic of a number of research reports. Northland Securities lifted their price target on shares of Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Robert W. Baird lifted their target price on 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 Quanta Services from $299.00 to $302.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. The Goldman Sachs Group raised their price target on Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Finally, Truist Financial reaffirmed a “buy” rating and set a $319.00 price objective (up from $305.00) on shares of Quanta Services in a report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $287.09.

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.