Natixis Advisors LLC Decreases Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Natixis Advisors LLC trimmed its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 17.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,750 shares of the construction company's stock after selling 18,743 shares during the period. Natixis Advisors LLC owned about 0.06% of Quanta Services worth $25,566,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of PWR. EntryPoint Capital LLC purchased a new stake in Quanta Services in the first quarter valued at approximately $25,000. Cambridge Trust Co. purchased a new stake in Quanta Services during the first quarter worth approximately $26,000. Valley Wealth Managers Inc. acquired a new stake in shares of Quanta Services in the second quarter worth $33,000. Quest Partners LLC purchased a new position in shares of Quanta Services in the 2nd quarter valued at $35,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new stake in Quanta Services during the 2nd quarter worth $38,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Performance

Shares of PWR traded up $2.11 during trading hours on Tuesday, hitting $330.52. The company's stock had a trading volume of 236,908 shares, compared to its average volume of 893,519. The company has a market cap of $48.79 billion, a price-to-earnings ratio of 60.59 and a beta of 1.01. Quanta Services, Inc. has a 52-week low of $180.97 and a 52-week high of $335.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The business has a 50 day simple moving average of $303.37 and a two-hundred day simple moving average of $278.35.

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

Quanta Services Dividend Announcement

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

Insider Activity

In other news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total value of $6,318,302.07. Following the completion of the sale, the insider now directly owns 10,631 shares in the company, valued at $2,875,791.81. The trade was a 68.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Jefferies Financial Group assumed coverage on Quanta Services in a research note on Wednesday, September 4th. They set a "hold" rating and a $256.00 price objective for the company. UBS Group increased their target price on shares of Quanta Services from $313.00 to $367.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Wolfe Research assumed coverage on shares of Quanta Services in a report on Thursday, September 19th. They issued an "outperform" rating and a $313.00 price target for the company. Stifel Nicolaus lifted their target price on Quanta Services from $283.00 to $342.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Finally, B. Riley increased their price target on Quanta Services from $286.00 to $303.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $314.27.

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.