Quanta Services, Inc. (NYSE:PWR) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its holdings in Quanta Services, Inc. (NYSE:PWR) by 4.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 138,115 shares of the construction company’s stock after selling 6,280 shares during the period. New York State Teachers Retirement System’s holdings in Quanta Services were worth $41,179,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Terra Nova Asset Management LLC grew its holdings in Quanta Services by 0.3% during the 3rd quarter. Terra Nova Asset Management LLC now owns 12,779 shares of the construction company’s stock worth $3,810,000 after acquiring an additional 38 shares in the last quarter. Greenleaf Trust increased its holdings in Quanta Services by 1.2% in the third quarter. Greenleaf Trust now owns 3,154 shares of the construction company’s stock valued at $940,000 after buying an additional 38 shares during the last quarter. EP Wealth Advisors LLC raised its stake 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 valued at $1,777,000 after buying an additional 39 shares in the last quarter. Whittier Trust Co. grew its position in shares of Quanta Services by 0.7% in the 3rd quarter. Whittier Trust Co. now owns 5,894 shares of the construction company’s stock worth $1,757,000 after acquiring an additional 39 shares in the last quarter. Finally, Westside Investment Management Inc. increased its holdings in shares of Quanta Services by 20.5% in the 2nd quarter. Westside Investment Management Inc. now owns 241 shares of the construction company’s stock valued at $61,000 after acquiring an additional 41 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Insider Activity

In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction dated 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 transaction, the insider now directly owns 21,286 shares of the company’s stock, valued at $5,490,297.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction that occurred 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 transaction, 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 document filed with the SEC, which is accessible through this link. Also, insider Karl W. Studer sold 23,357 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the sale, the insider now directly owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. This represents 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 90 days. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PWR has been the subject of a number of research reports. TD Cowen lifted their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. UBS Group boosted 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. Truist Financial raised their target price on shares of Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Robert W. Baird increased their price target on Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Finally, Jefferies Financial Group assumed coverage on Quanta Services in a research report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price objective for the company. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $308.07.

Quanta Services Stock Down 0.6 %

PWR stock opened at $311.50 on Thursday. The firm’s 50-day moving average is $288.27 and its two-hundred day moving average is $271.82. The company has a market capitalization of $45.89 billion, a price-to-earnings ratio of 58.77 and a beta of 1.01. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $317.91. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.45.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.75 by $0.15. The firm had revenue of $5.59 billion for 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 firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.47 earnings per share. On average, analysts forecast that Quanta Services, Inc. will post 7.82 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services’s dividend payout ratio 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.