Wilson Asset Management International PTY Ltd. Cuts Holdings in Quanta Services, Inc. (NYSE:PWR)

Wilson Asset Management International PTY Ltd. cut its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 18.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 55,286 shares of the construction company's stock after selling 12,545 shares during the period. Quanta Services makes up approximately 4.0% of Wilson Asset Management International PTY Ltd.'s investment portfolio, making the stock its 10th largest holding. Wilson Asset Management International PTY Ltd.'s holdings in Quanta Services were worth $16,484,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Terra Nova Asset Management LLC grew its position in shares of Quanta Services by 0.3% in the 3rd quarter. Terra Nova Asset Management LLC now owns 12,779 shares of the construction company's stock valued at $3,810,000 after purchasing an additional 38 shares during the period. Greenleaf Trust increased its position in shares of Quanta Services by 1.2% during the 3rd quarter. Greenleaf Trust now owns 3,154 shares of the construction company's stock worth $940,000 after purchasing an additional 38 shares during the last quarter. EP Wealth Advisors LLC raised its position in Quanta Services by 0.6% during the second quarter. EP Wealth Advisors LLC now owns 6,994 shares of the construction company's stock worth $1,777,000 after acquiring an additional 39 shares in the last quarter. Whittier Trust Co. lifted its stake in Quanta Services by 0.7% in the 3rd quarter. Whittier Trust Co. now owns 5,894 shares of the construction company's stock valued at $1,757,000 after purchasing an additional 39 shares during the last quarter. Finally, Westside Investment Management Inc. lifted its position in shares of Quanta Services by 20.5% in the second quarter. Westside Investment Management Inc. now owns 241 shares of the construction company's stock valued at $61,000 after buying an additional 41 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on PWR shares. Stifel Nicolaus upped their price objective on shares of Quanta Services from $283.00 to $342.00 and gave the company a "buy" rating in a report on Thursday, October 10th. B. Riley upped their price target on shares of Quanta Services from $286.00 to $303.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Robert W. Baird raised their price objective on shares of Quanta Services from $287.00 to $288.00 and gave the stock an "outperform" rating in a research report on Friday, July 19th. Wolfe Research assumed coverage on Quanta Services in a research note on Thursday, September 19th. They set an "outperform" rating and a $313.00 target price on the stock. Finally, Truist Financial lifted their price target on Quanta Services from $319.00 to $358.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. 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 stock currently has a consensus rating of "Moderate Buy" and an average target price of $308.07.

Insider Transactions at Quanta Services

In related news, insider Karl W. Studer sold 23,357 shares of the company's stock in a transaction that occurred on Wednesday, August 21st. The shares were 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 directly owns 10,631 shares in the company, valued at $2,875,791.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the business's stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the sale, the chief executive officer now directly owns 593,402 shares in the company, valued at approximately $155,595,938.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction that occurred on 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 sale, the insider now owns 10,631 shares in the company, valued at approximately $2,875,791.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is currently owned by insiders.

Quanta Services Price Performance

Quanta Services stock traded up $0.07 during trading hours on Tuesday, reaching $313.43. 578,281 shares of the stock were exchanged, compared to its average volume of 885,044. The stock has a 50 day moving average of $287.34 and a two-hundred day moving average of $271.41. The company has a market cap of $46.18 billion, a P/E ratio of 59.12 and a beta of 1.01. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.45. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $317.91.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.75 by $0.15. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The business had revenue of $5.59 billion for the quarter, compared to analysts' expectations of $5.51 billion. During the same period last year, the firm posted $1.47 earnings per share. The firm's quarterly revenue was up 10.8% compared to the same quarter last year. Equities analysts expect that Quanta Services, Inc. will post 7.82 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders 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 payout ratio is 6.79%.

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.