National Pension Service lowered its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 2.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 181,791 shares of the construction company's stock after selling 5,309 shares during the quarter. National Pension Service owned 0.12% of Quanta Services worth $54,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently modified their holdings of the company. EntryPoint Capital LLC purchased a new position in Quanta Services during the first quarter valued at $25,000. Cambridge Trust Co. purchased a new position in shares of Quanta Services during the 1st quarter worth about $26,000. Valley Wealth Managers Inc. purchased a new stake in Quanta Services in the 2nd quarter worth about $33,000. Quest Partners LLC purchased a new stake in Quanta Services in the second quarter worth $35,000. Finally, Eastern Bank bought a new position in shares of Quanta Services in the third quarter worth about $44,000. 90.49% of the stock is owned by hedge funds and other institutional investors.
Quanta Services Price Performance
PWR stock traded down $4.64 during mid-day trading on Wednesday, reaching $309.98. The company's stock had a trading volume of 2,006,718 shares, compared to its average volume of 891,484. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a fifty-two week low of $163.93 and a fifty-two week high of $317.91. The stock has a market cap of $45.76 billion, a PE ratio of 55.60 and a beta of 1.01. The company's 50 day moving average is $291.95 and its two-hundred day moving average is $273.96.
Quanta Services (NYSE:PWR - Get Free Report) last announced 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 during the quarter, compared to analysts' expectations of $6.56 billion. During the same quarter last year, the business posted $2.08 earnings per share. The business's revenue for the quarter was up 15.5% on a year-over-year basis. Equities research analysts expect that Quanta Services, Inc. will post 7.83 EPS 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 dividend yield of 0.12%. The ex-dividend date was Tuesday, October 1st. Quanta Services's payout ratio is 6.64%.
Analysts Set New Price Targets
A number of analysts recently issued reports on PWR shares. Jefferies Financial Group began 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. Stifel Nicolaus upped their price target on shares of Quanta Services from $283.00 to $342.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. UBS Group lifted their price target on Quanta Services from $313.00 to $367.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. B. Riley increased their target price on shares of Quanta Services from $286.00 to $303.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Finally, Citigroup upped their target price on Quanta Services from $302.00 to $348.00 and gave the company a "buy" rating in a research report on Friday, October 4th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $314.27.
Read Our Latest Analysis on Quanta Services
Insider Buying and Selling
In related news, COO James Redgie Probst sold 34,000 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the transaction, the chief operating officer now directly owns 29,002 shares in the company, valued at approximately $7,541,390.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Karl W. Studer sold 23,357 shares of the firm'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 value of $6,318,302.07. Following the transaction, the insider now owns 10,631 shares in the company, valued at approximately $2,875,791.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO James Redgie Probst sold 34,000 shares of the business's stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the sale, the chief operating officer now owns 29,002 shares of the company's stock, valued at approximately $7,541,390.06. 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 have sold 202,357 shares of company stock worth $53,115,572. 1.10% of the stock is owned by insiders.
About Quanta Services
(
Free Report)
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.
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