Quanta Services, Inc. (NYSE:PWR) Shares Purchased by Purus Wealth Management LLC

Purus Wealth Management LLC raised its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 7.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,150 shares of the construction company’s stock after buying an additional 80 shares during the quarter. Purus Wealth Management LLC’s holdings in Quanta Services were worth $292,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. EntryPoint Capital LLC acquired a new stake in Quanta Services during the 1st quarter valued at $25,000. Private Ocean LLC acquired a new stake in shares of Quanta Services during the first quarter worth $26,000. Salomon & Ludwin LLC acquired a new stake in shares of Quanta Services during the first quarter worth $26,000. Cambridge Trust Co. acquired a new stake in shares of Quanta Services during the first quarter worth $26,000. Finally, Valley Wealth Managers Inc. acquired a new stake in shares of Quanta Services during the second quarter worth $33,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group assumed coverage on Quanta Services in a report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price objective on the stock. B. Riley raised their price objective on Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. TD Cowen increased their target price on Quanta Services from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. 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. Finally, Truist Financial reaffirmed a “buy” rating and issued a $319.00 target price (up from $305.00) on shares of Quanta Services in a research report on Monday, August 5th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and a consensus target price of $284.50.

Insider Transactions at Quanta Services

In other news, COO James Redgie Probst sold 34,000 shares of Quanta Services stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the sale, the chief operating officer now directly owns 29,002 shares of the company’s stock, valued at $7,541,390.06. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction dated 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 directly owns 10,631 shares in the company, valued at $2,875,791.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO James Redgie Probst sold 34,000 shares of Quanta Services stock in a transaction dated Friday, August 9th. The stock was 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 owns 29,002 shares of the company’s stock, valued at $7,541,390.06. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is currently owned by insiders.

Quanta Services Trading Up 0.9 %

NYSE:PWR opened at $273.92 on Wednesday. The business’s 50-day moving average is $260.93 and its two-hundred day moving average is $260.81. 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 12 month low of $153.74 and a 12 month high of $286.87. The firm has a market capitalization of $40.36 billion, a PE ratio of 53.09 and a beta of 1.01.

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, topping analysts’ consensus estimates of $1.75 by $0.15. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The business had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the previous year, the company earned $1.47 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. Research analysts predict that Quanta Services, Inc. will post 7.82 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

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 given 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 is Tuesday, October 1st. Quanta Services’s payout ratio is 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.