Leavell Investment Management Inc. Increases Holdings in Quanta Services, Inc. (NYSE:PWR)

Leavell Investment Management Inc. lifted its position in Quanta Services, Inc. (NYSE:PWR) by 11.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,804 shares of the construction company’s stock after purchasing an additional 1,125 shares during the quarter. Leavell Investment Management Inc.’s holdings in Quanta Services were worth $2,745,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. EntryPoint Capital LLC acquired a new stake in shares of Quanta Services during the 1st quarter worth about $25,000. Private Ocean LLC acquired a new position in shares of Quanta Services in the 1st quarter worth approximately $26,000. Salomon & Ludwin LLC purchased a new position in shares of Quanta Services during the 1st quarter worth approximately $26,000. Cambridge Trust Co. acquired a new stake in Quanta Services in the 1st quarter valued at approximately $26,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Quanta Services in the fourth quarter valued at approximately $34,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on PWR. Robert W. Baird raised their price target on Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. 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 research note on Tuesday, May 28th. TD Cowen boosted their price target on Quanta Services from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Argus increased their price objective on Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Finally, Northland Securities boosted their target price on Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $287.09.

Quanta Services Price Performance

Shares of PWR traded up $4.49 during mid-day trading on Thursday, reaching $267.96. 584,574 shares of the company’s stock were exchanged, compared to its average volume of 959,478. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $286.87. The company has a market cap of $39.23 billion, a price-to-earnings ratio of 51.93 and a beta of 1.03. The company has a 50-day simple moving average of $261.44 and a two-hundred day simple moving average of $252.08.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, topping 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 quarter last year, the business posted $1.47 earnings per share. Quanta Services’s revenue was up 10.8% compared to the same quarter last year. On average, sell-side analysts predict that Quanta Services, Inc. will post 7.71 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Monday, July 1st were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, July 1st. This represents a $0.36 annualized dividend and a dividend yield of 0.13%. Quanta Services’s dividend payout ratio is currently 6.98%.

Insider Transactions at Quanta Services

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $257.93, for a total value of $3,868,950.00. Following the sale, the insider now directly owns 21,286 shares of the company’s stock, valued at approximately $5,490,297.98. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction that occurred on 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 $5,490,297.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO James Redgie Probst sold 34,000 shares of Quanta Services stock in a transaction on 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 completion of the transaction, the chief operating officer now owns 29,002 shares in the company, valued at approximately $7,541,390.06. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

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.