Bruni J V & Co. Co. Sells 6,861 Shares of Quanta Services, Inc. (NYSE:PWR)

Bruni J V & Co. Co. cut its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 8.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,026 shares of the construction company's stock after selling 6,861 shares during the period. Quanta Services comprises about 2.4% of Bruni J V & Co. Co.'s holdings, making the stock its 22nd largest position. Bruni J V & Co. Co.'s holdings in Quanta Services were worth $21,176,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. EntryPoint Capital LLC purchased a new position in Quanta Services in the 1st quarter valued at about $25,000. Cambridge Trust Co. acquired a new position in shares of Quanta Services during the 1st quarter valued at about $26,000. Valley Wealth Managers Inc. acquired a new position in shares of Quanta Services during the 2nd quarter valued at about $33,000. Quest Partners LLC acquired a new position in shares of Quanta Services during the 2nd quarter valued at about $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Quanta Services during the 2nd quarter valued at about $38,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Wolfe Research assumed coverage on shares of Quanta Services in a research report on Thursday, September 19th. They set an "outperform" rating and a $313.00 target price for the company. JPMorgan Chase & Co. assumed coverage on shares of Quanta Services in a research report on Monday, October 7th. They set a "neutral" rating and a $297.00 target price for the company. Jefferies Financial Group assumed coverage on shares of Quanta Services in a research report on Wednesday, September 4th. They set a "hold" rating and a $256.00 target price for the company. Citigroup increased their target price on shares of Quanta Services from $302.00 to $348.00 and gave the stock a "buy" rating in a research report on Friday, October 4th. Finally, Robert W. Baird increased their target price on shares of Quanta Services from $320.00 to $333.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $314.27.

Quanta Services Stock Up 0.6 %

Shares of Quanta Services stock traded up $2.11 on Tuesday, hitting $330.52. 236,908 shares of the company's stock traded hands, compared to its average volume of 893,519. The stock has a market cap of $48.79 billion, a P/E ratio of 60.59 and a beta of 1.01. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The firm's 50-day moving average is $303.37 and its 200 day moving average is $278.35. Quanta Services, Inc. has a 52-week low of $180.97 and a 52-week high of $335.00.

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

Quanta Services Announces Dividend

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

Insider Buying and Selling

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 sale, the insider now directly 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 filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.

About Quanta Services

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.