Quanta Services, Inc. (NYSE:PWR) Shares Sold by Stevens Capital Management LP

Stevens Capital Management LP trimmed its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 94.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,006 shares of the construction company's stock after selling 16,972 shares during the quarter. Stevens Capital Management LP's holdings in Quanta Services were worth $300,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Electron Capital Partners LLC increased its holdings in Quanta Services by 395.1% in the 2nd quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company's stock valued at $666,260,000 after purchasing an additional 2,092,519 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Quanta Services by 1,445.3% in the second quarter. American Century Companies Inc. now owns 395,152 shares of the construction company's stock valued at $100,404,000 after buying an additional 369,581 shares in the last quarter. Alkeon Capital Management LLC raised its holdings in shares of Quanta Services by 62.5% during the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company's stock valued at $193,798,000 after buying an additional 250,000 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Quanta Services by 17.8% during 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 acquiring an additional 186,306 shares in the last quarter. Finally, National Bank of Canada FI boosted its holdings in Quanta Services by 297.3% in the 2nd quarter. National Bank of Canada FI now owns 215,914 shares of the construction company's stock worth $53,455,000 after acquiring an additional 161,574 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Performance

Shares of Quanta Services stock traded down $2.61 during trading hours on Friday, reaching $332.36. The company's stock had a trading volume of 1,081,065 shares, compared to its average volume of 894,853. Quanta Services, Inc. has a one year low of $187.27 and a one year high of $350.19. The company's 50 day simple moving average is $319.67 and its 200 day simple moving average is $285.28. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a market cap of $49.06 billion, a P/E ratio of 61.32 and a beta of 1.03.

Quanta Services (NYSE:PWR - Get Free Report) last issued its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating analysts' consensus estimates of $2.46 by $0.26. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. Quanta Services's quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.08 earnings per share. As a group, analysts expect that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. This is a boost from Quanta Services's previous quarterly dividend of $0.09. The ex-dividend date is Thursday, January 2nd. Quanta Services's dividend payout ratio (DPR) is presently 7.38%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. TD Cowen lifted their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. Robert W. Baird lifted their price target on shares of Quanta Services from $320.00 to $333.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. 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 research report on Thursday, October 10th. JPMorgan Chase & Co. started coverage on Quanta Services in a research report on Monday, October 7th. They set a "neutral" rating and a $297.00 target price on the stock. Finally, Citigroup increased 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 thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $316.81.

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.