Braun Stacey Associates Inc. Sells 18,003 Shares of Quanta Services, Inc. (NYSE:PWR)

Braun Stacey Associates Inc. trimmed its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 13.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 116,632 shares of the construction company's stock after selling 18,003 shares during the period. Quanta Services makes up about 1.3% of Braun Stacey Associates Inc.'s holdings, making the stock its 17th biggest position. Braun Stacey Associates Inc. owned approximately 0.08% of Quanta Services worth $34,774,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PWR. Electron Capital Partners LLC raised its position in Quanta Services by 395.1% during the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company's stock valued at $666,260,000 after buying an additional 2,092,519 shares during the period. Swedbank AB acquired a new position in Quanta Services during the first quarter valued at $227,218,000. Capital World Investors increased its position in Quanta Services by 10.7% in the 1st quarter. Capital World Investors now owns 6,643,733 shares of the construction company's stock worth $1,726,042,000 after purchasing an additional 643,011 shares during the last quarter. American Century Companies Inc. increased its position in Quanta Services by 1,445.3% in the 2nd quarter. American Century Companies Inc. now owns 395,152 shares of the construction company's stock worth $100,404,000 after purchasing an additional 369,581 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Quanta Services by 17.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company's stock worth $313,968,000 after purchasing an additional 186,306 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Quanta Services

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 transaction of $6,318,302.07. Following the completion of the transaction, the insider now owns 10,631 shares in the company, valued at approximately $2,875,791.81. This trade represents a 68.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PWR has been the topic of several research reports. Stifel Nicolaus upped their target price on Quanta Services from $283.00 to $342.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Jefferies Financial Group initiated coverage on Quanta Services in a report on Wednesday, September 4th. They issued a "hold" rating and a $256.00 price target for the company. TD Cowen upped their price target on Quanta Services from $280.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. initiated coverage on Quanta Services in a report on Monday, October 7th. They issued a "neutral" rating and a $297.00 price target for the company. Finally, Citigroup upped their price target on Quanta Services from $302.00 to $348.00 and gave the company a "buy" rating in a report on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $314.27.

Quanta Services Trading Up 2.1 %

Shares of NYSE:PWR traded up $6.66 during midday trading on Monday, hitting $329.99. The company had a trading volume of 348,955 shares, compared to its average volume of 893,935. Quanta Services, Inc. has a 12 month low of $180.97 and a 12 month high of $335.00. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The stock has a market cap of $48.71 billion, a price-to-earnings ratio of 59.65 and a beta of 1.01. The firm has a fifty day simple moving average of $301.80 and a 200 day simple moving average of $277.83.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.26. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm's revenue was up 15.5% on a year-over-year basis. During the same period last year, the company earned $2.08 EPS. On average, analysts predict that Quanta Services, Inc. will post 7.88 EPS for the current year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services's dividend payout ratio is 6.64%.

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.