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

New York State Teachers Retirement System reduced its holdings in Quanta Services, Inc. (NYSE:PWR) by 4.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 138,115 shares of the construction company’s stock after selling 6,280 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of Quanta Services worth $41,179,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Diversified Trust Co purchased a new stake in shares of Quanta Services during the 1st quarter worth $328,000. Allspring Global Investments Holdings LLC increased its holdings in Quanta Services by 57.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 252,249 shares of the construction company’s stock valued at $65,534,000 after buying an additional 92,082 shares in the last quarter. First Trust Direct Indexing L.P. lifted its position in shares of Quanta Services by 31.5% during the 1st quarter. First Trust Direct Indexing L.P. now owns 3,114 shares of the construction company’s stock valued at $809,000 after acquiring an additional 746 shares during the period. Maryland State Retirement & Pension System boosted its stake in shares of Quanta Services by 2.8% during the 1st quarter. Maryland State Retirement & Pension System now owns 11,280 shares of the construction company’s stock worth $2,746,000 after acquiring an additional 305 shares in the last quarter. Finally, J.W. Cole Advisors Inc. grew its holdings in shares of Quanta Services by 3.5% in the 1st quarter. J.W. Cole Advisors Inc. now owns 4,770 shares of the construction company’s stock worth $1,239,000 after acquiring an additional 162 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Quanta Services

In other Quanta Services news, COO James Redgie Probst sold 34,000 shares of Quanta Services stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the transaction, the chief operating officer now directly owns 29,002 shares of the company’s stock, valued at $7,541,390.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction dated 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 owns 10,631 shares in the company, valued at approximately $2,875,791.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO James Redgie Probst sold 34,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $260.03, for a total value of $8,841,020.00. Following the transaction, the chief operating officer now directly owns 29,002 shares in the company, valued at $7,541,390.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 202,357 shares of company stock worth $53,115,572. 1.10% of the stock is currently owned by company insiders.

Quanta Services Stock Performance

Shares of PWR stock opened at $311.50 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30. The firm 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 one year low of $153.74 and a one year high of $317.91. The company has a 50 day moving average price of $288.27 and a 200 day moving average price of $271.82.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates 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 revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.47 earnings per share. Sell-side analysts anticipate that Quanta Services, Inc. will post 7.82 EPS for the current 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 annualized dividend 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 currently 6.79%.

Analysts Set New Price Targets

PWR has been the topic of a number of research analyst reports. Northland Securities boosted their target price on Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Robert W. Baird increased their price objective on shares of Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Truist Financial lifted their target price on shares of Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. UBS Group increased their price target 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. Finally, TD Cowen lifted their price objective on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Four equities research 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 stock has an average rating of “Moderate Buy” and a consensus price target 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.