Petra Financial Advisors Inc. Has $1.26 Million Holdings in Quanta Services, Inc. (NYSE:PWR)

Petra Financial Advisors Inc. cut its position in Quanta Services, Inc. (NYSE:PWR) by 4.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,208 shares of the construction company’s stock after selling 203 shares during the period. Petra Financial Advisors Inc.’s holdings in Quanta Services were worth $1,255,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Electron Capital Partners LLC raised its stake in shares of Quanta Services by 395.1% during the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock worth $666,260,000 after buying an additional 2,092,519 shares during the last quarter. Swedbank AB bought a new stake in Quanta Services in the first quarter valued at approximately $227,218,000. Capital World Investors increased its stake in Quanta Services by 10.7% in the first quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock valued at $1,726,042,000 after purchasing an additional 643,011 shares in the last quarter. American Century Companies Inc. increased its stake in 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 purchasing an additional 369,581 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Quanta Services by 17.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock valued at $313,968,000 after purchasing an additional 186,306 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the sale, the insider now directly owns 21,286 shares in the company, valued at $5,490,297.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Karl W. Studer sold 23,357 shares of the firm’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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the completion of the sale, the insider now owns 21,286 shares in the company, valued at approximately $5,490,297.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 202,357 shares of company stock worth $53,115,572 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Stock Performance

Shares of PWR traded down $6.94 during trading hours on Thursday, hitting $304.69. The company had a trading volume of 310,716 shares, compared to its average volume of 882,502. The firm has a market cap of $44.89 billion, a price-to-earnings ratio of 58.77 and a beta of 1.01. The business has a fifty day moving average of $288.27 and a 200-day moving average of $271.82. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $317.91. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same period last year, the firm earned $2.08 earnings per share. Quanta Services’s revenue for the quarter was up 15.5% compared to the same quarter last year. Equities analysts anticipate that Quanta Services, Inc. will post 7.82 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.12%. Quanta Services’s payout ratio is 6.79%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Quanta Services in a report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price target for the company. Northland Securities upped their price target on shares of Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Robert W. Baird increased their target price on shares of Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Wolfe Research assumed coverage on shares of Quanta Services in a report on Thursday, September 19th. They set an “outperform” rating and a $313.00 target price for the company. Finally, Citigroup increased their target price on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and an average target price of $308.07.

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.