Evergreen Capital Management LLC Raises Stake in Quanta Services, Inc. (NYSE:PWR)

Evergreen Capital Management LLC increased its position in Quanta Services, Inc. (NYSE:PWR) by 4.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,603 shares of the construction company’s stock after buying an additional 74 shares during the period. Evergreen Capital Management LLC’s holdings in Quanta Services were worth $407,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. EntryPoint Capital LLC purchased a new position in shares of Quanta Services during the 1st quarter worth $25,000. Private Ocean LLC acquired a new position in Quanta Services in the first quarter valued at $26,000. Salomon & Ludwin LLC purchased a new position in Quanta Services during the first quarter worth about $26,000. Cambridge Trust Co. acquired a new stake in Quanta Services in the 1st quarter worth about $26,000. Finally, Valley Wealth Managers Inc. acquired a new position in shares of Quanta Services during the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PWR shares. Robert W. Baird raised their target price on shares of Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Wolfe Research started coverage on shares of Quanta Services in a report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price target on the stock. Citigroup increased 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. Truist Financial reissued a “buy” rating and set a $319.00 price target (up previously from $305.00) on shares of Quanta Services in a research report on Monday, August 5th. Finally, TD Cowen raised their price objective on Quanta Services from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $286.69.

Quanta Services Price Performance

PWR opened at $296.28 on Friday. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $306.50. The firm has a market cap of $43.37 billion, a price-to-earnings ratio of 57.42 and a beta of 1.01. 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 company has a fifty day simple moving average of $265.42 and a 200 day simple moving average of $262.95.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.15. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The company had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the firm earned $1.47 earnings per share. The company’s revenue was up 10.8% on a year-over-year basis. Equities research analysts expect that Quanta Services, Inc. will post 7.82 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently announced 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. This represents a $0.36 annualized dividend and a dividend yield of 0.12%. The ex-dividend date is Tuesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is currently 6.98%.

Insider Transactions at Quanta Services

In related news, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 10,631 shares of the company’s stock, valued at $2,875,791.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the sale, the chief executive officer now owns 593,402 shares in the company, valued at $155,595,938.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the completion of the transaction, the insider now owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. The disclosure for this sale can be found here. Over the last quarter, insiders sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is currently owned by corporate insiders.

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.