Quanta Services, Inc. (NYSE:PWR) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lowered its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 16.5% during the second quarter, Holdings Channel reports. The fund owned 199,517 shares of the construction company’s stock after selling 39,343 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Quanta Services were worth $50,695,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Westside Investment Management Inc. increased its position in shares of Quanta Services by 20.5% during the second quarter. Westside Investment Management Inc. now owns 241 shares of the construction company’s stock worth $61,000 after acquiring an additional 41 shares during the last quarter. Ameritas Advisory Services LLC grew its stake in Quanta Services by 5.0% during the 2nd quarter. Ameritas Advisory Services LLC now owns 876 shares of the construction company’s stock valued at $223,000 after purchasing an additional 42 shares in the last quarter. Aspen Investment Management Inc increased its holdings in Quanta Services by 3.7% during the 2nd quarter. Aspen Investment Management Inc now owns 1,254 shares of the construction company’s stock worth $319,000 after purchasing an additional 45 shares during the last quarter. Terra Nova Asset Management LLC raised its position in shares of Quanta Services by 0.4% in the 2nd quarter. Terra Nova Asset Management LLC now owns 12,741 shares of the construction company’s stock valued at $3,237,000 after purchasing an additional 46 shares in the last quarter. Finally, Wedmont Private Capital boosted its stake in shares of Quanta Services by 1.0% during the 1st quarter. Wedmont Private Capital now owns 4,674 shares of the construction company’s stock valued at $1,198,000 after buying an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

PWR opened at $289.74 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.45. The business’s 50 day moving average is $261.73 and its 200-day moving average is $261.09. The stock has a market cap of $42.69 billion, a PE ratio of 56.15 and a beta of 1.01. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $291.71.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.15. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The firm had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the previous year, the business earned $1.47 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, analysts predict that Quanta Services, Inc. will post 7.82 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be given a $0.09 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.12%. Quanta Services’s dividend payout ratio is presently 6.98%.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Karl W. Studer sold 23,357 shares of the business’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 sale, the insider now directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the completion of the transaction, the insider now owns 21,286 shares in the company, valued at approximately $5,490,297.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 202,357 shares of company stock valued at $53,115,572. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

PWR has been the subject of a number of research analyst reports. TD Cowen lifted their price target on shares of Quanta Services from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. B. Riley boosted their target price on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. The Goldman Sachs Group increased their price target on shares of Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Argus boosted their price objective on Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Finally, Wolfe Research started coverage on Quanta Services in a research note on Thursday. They set an “outperform” rating and a $313.00 price objective on the stock. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $286.69.

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.