3,000 Shares in Quanta Services, Inc. (NYSE:PWR) Acquired by Monetta Financial Services Inc.

Monetta Financial Services Inc. bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,000 shares of the construction company’s stock, valued at approximately $762,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. EntryPoint Capital LLC bought a new position in shares of Quanta Services during the 1st quarter worth approximately $25,000. Private Ocean LLC acquired a new position in shares of Quanta Services during the first quarter valued at about $26,000. Salomon & Ludwin LLC acquired a new position in Quanta Services during the 1st quarter valued at approximately $26,000. Cambridge Trust Co. purchased a new position in Quanta Services in the 1st quarter worth $26,000. Finally, Valley Wealth Managers Inc. purchased a new position in shares of Quanta Services in the second quarter worth about $33,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Stock Up 0.8 %

PWR stock opened at $271.59 on Tuesday. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $286.87. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45. The firm has a 50-day simple moving average of $260.55 and a 200-day simple moving average of $260.58. The stock has a market capitalization of $40.01 billion, a P/E ratio of 52.63 and a beta of 1.01.

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. The company had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. Quanta Services’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.47 EPS. Equities analysts forecast that Quanta Services, Inc. will post 7.82 earnings per share 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 issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date of this dividend is Tuesday, October 1st. Quanta Services’s payout ratio is 6.98%.

Insider Activity

In related news, COO James Redgie Probst sold 34,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the transaction, the chief operating officer now directly owns 29,002 shares in the company, valued at $7,541,390.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO James Redgie Probst sold 34,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the transaction, the chief operating officer now directly owns 29,002 shares in the company, valued at approximately $7,541,390.06. The disclosure for this sale can be found here. Insiders sold 202,357 shares of company stock worth $53,115,572 over the last three months. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Citigroup upped their target price on Quanta Services from $299.00 to $302.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. B. Riley increased their price objective on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. TD Cowen boosted their target price on shares of Quanta Services from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Truist Financial reaffirmed a “buy” rating and set a $319.00 price target (up from $305.00) on shares of Quanta Services in a research report on Monday, August 5th. Finally, Robert W. Baird boosted their price objective on Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $284.50.

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.