AlTi Global Inc. Has $857,000 Stake in Quanta Services, Inc. (NYSE:PWR)

AlTi Global Inc. trimmed its holdings in Quanta Services, Inc. (NYSE:PWR) by 7.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,371 shares of the construction company’s stock after selling 271 shares during the period. AlTi Global Inc.’s holdings in Quanta Services were worth $857,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PWR. Aveo Capital Partners LLC raised its position in shares of Quanta Services by 11.0% in the fourth quarter. Aveo Capital Partners LLC now owns 1,313 shares of the construction company’s stock valued at $283,000 after buying an additional 130 shares in the last quarter. US Bancorp DE raised its position in Quanta Services by 8.4% during the fourth quarter. US Bancorp DE now owns 13,333 shares of the construction company’s stock valued at $2,877,000 after purchasing an additional 1,032 shares in the last quarter. Commerce Bank raised its position in Quanta Services by 5.5% during the fourth quarter. Commerce Bank now owns 4,477 shares of the construction company’s stock valued at $966,000 after purchasing an additional 232 shares in the last quarter. Hilltop Holdings Inc. acquired a new position in Quanta Services during the fourth quarter valued at approximately $429,000. Finally, Steward Partners Investment Advisory LLC raised its position in Quanta Services by 13.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,076 shares of the construction company’s stock valued at $1,743,000 after purchasing an additional 966 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Performance

Shares of PWR opened at $297.94 on Thursday. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $43.61 billion, a P/E ratio of 57.74 and a beta of 1.01. The firm’s fifty day simple moving average is $264.78 and its two-hundred day simple moving average is $262.72. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $302.24.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. The business had revenue of $5.59 billion for 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 business’s quarterly 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 earnings per share. As a group, analysts predict that Quanta Services, Inc. will post 7.82 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders 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 0.12%. Quanta Services’s dividend payout ratio (DPR) is currently 6.98%.

Insider Transactions at Quanta Services

In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the 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 transaction, the insider now owns 21,286 shares of the company’s stock, valued at approximately $5,490,297.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Karl W. Studer sold 23,357 shares of the 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 transaction, the insider now owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction 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 disclosure for this sale can be found here. Insiders have sold 202,357 shares of company stock valued at $53,115,572 in the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on PWR. Argus boosted their price objective on shares of Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. TD Cowen upped their price target on shares of Quanta Services from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Truist Financial reiterated a “buy” rating and set a $319.00 price target (up from $305.00) on shares of Quanta Services in a report on Monday, August 5th. Wolfe Research began coverage on shares of Quanta Services in a report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price target for the company. Finally, B. Riley upped their price target on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $286.69.

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.