Quanta Services, Inc. (NYSE:PWR) Shares Sold by Strategy Asset Managers LLC

Strategy Asset Managers LLC lessened its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 49.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,363 shares of the construction company's stock after selling 3,304 shares during the quarter. Strategy Asset Managers LLC's holdings in Quanta Services were worth $1,003,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital World Investors lifted its position in shares of Quanta Services by 10.7% during the first quarter. Capital World Investors now owns 6,643,733 shares of the construction company's stock worth $1,726,042,000 after purchasing an additional 643,011 shares in the last quarter. Electron Capital Partners LLC raised its position 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. Massachusetts Financial Services Co. MA lifted its position in shares of 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 purchasing an additional 186,306 shares during the last quarter. Swedbank AB grew its stake in shares of Quanta Services by 4.6% during the third quarter. Swedbank AB now owns 960,081 shares of the construction company's stock worth $286,248,000 after purchasing an additional 42,579 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Quanta Services by 1.6% in the third quarter. PNC Financial Services Group Inc. now owns 605,782 shares of the construction company's stock valued at $180,614,000 after buying an additional 9,705 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PWR has been the topic of several recent analyst reports. JPMorgan Chase & Co. started coverage on shares of Quanta Services in a research note on Monday, October 7th. They issued a "neutral" rating and a $297.00 price target on the stock. Stifel Nicolaus raised their price objective 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 objective on shares of Quanta Services from $313.00 to $367.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Citigroup raised their target price on shares of Quanta Services from $302.00 to $348.00 and gave the stock a "buy" rating in a research note on Friday, October 4th. Finally, Jefferies Financial Group initiated coverage on shares of Quanta Services in a report on Wednesday, September 4th. They set a "hold" rating and a $256.00 price target for the company. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $314.27.

Quanta Services Price Performance

Shares of PWR traded up $0.75 during mid-day trading on Wednesday, reaching $331.53. 266,036 shares of the company's stock were exchanged, compared to its average volume of 893,338. Quanta Services, Inc. has a 52-week low of $180.97 and a 52-week high of $335.00. 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 company has a 50-day simple moving average of $304.98 and a two-hundred day simple moving average of $278.87. The company has a market cap of $48.94 billion, a price-to-earnings ratio of 61.02 and a beta of 1.01.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $6.49 billion for the quarter, compared to analyst estimates 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 for the quarter was up 15.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.08 earnings per share. On average, sell-side analysts predict that Quanta Services, Inc. will post 7.88 EPS for the current fiscal year.

Quanta Services Dividend Announcement

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

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.