Quanta Services, Inc. (NYSE:PWR) Shares Bought by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. grew its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 2.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,470 shares of the construction company’s stock after purchasing an additional 103 shares during the period. Contravisory Investment Management Inc.’s holdings in Quanta Services were worth $1,333,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PWR. EP Wealth Advisors LLC grew its holdings in Quanta Services by 0.6% during the second quarter. EP Wealth Advisors LLC now owns 6,994 shares of the construction company’s stock worth $1,777,000 after acquiring an additional 39 shares during the period. Westside Investment Management Inc. grew its holdings in 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 period. Ameritas Advisory Services LLC grew its holdings in Quanta Services by 5.0% during the second quarter. Ameritas Advisory Services LLC now owns 876 shares of the construction company’s stock worth $223,000 after acquiring an additional 42 shares during the period. Aspen Investment Management Inc grew its holdings in Quanta Services by 3.7% during the second quarter. Aspen Investment Management Inc now owns 1,254 shares of the construction company’s stock worth $319,000 after acquiring an additional 45 shares during the period. Finally, Terra Nova Asset Management LLC grew its holdings in Quanta Services by 0.4% during the second quarter. Terra Nova Asset Management LLC now owns 12,741 shares of the construction company’s stock worth $3,237,000 after acquiring an additional 46 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. TD Cowen lifted their target price on Quanta Services from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Robert W. Baird lifted their price target on Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. B. Riley boosted their price objective on Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Stifel Nicolaus boosted their price objective on Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Jefferies Financial Group initiated coverage on Quanta Services in a report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and an average price target of $299.93.

Insider Transactions at Quanta Services

In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company’s 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 directly owns 21,286 shares in the company, valued at $5,490,297.98. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $257.93, for a total value of $3,868,950.00. Following the sale, the insider now owns 21,286 shares of the company’s stock, valued at $5,490,297.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Karl W. Studer sold 23,357 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the transaction, the insider now directly owns 10,631 shares of the company’s stock, valued at $2,875,791.81. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 202,357 shares of company stock worth $53,115,572 over the last three months. 1.10% of the stock is currently owned by insiders.

Quanta Services Stock Down 0.2 %

Shares of Quanta Services stock opened at $306.99 on Friday. The stock has a market capitalization of $45.23 billion, a P/E ratio of 57.92 and a beta of 1.01. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45. The stock has a 50 day moving average price of $274.40 and a two-hundred day moving average price of $266.88. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $312.52.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. The firm had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The company’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.47 earnings per share. Equities analysts expect that Quanta Services, Inc. will post 7.81 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st will be issued a dividend of $0.09 per share. The ex-dividend date is Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio (DPR) is presently 6.79%.

Quanta Services 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.