Seelaus Asset Management LLC Trims Stake in Quanta Services, Inc. (NYSE:PWR)

Seelaus Asset Management LLC lessened its position in Quanta Services, Inc. (NYSE:PWR) by 3.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,233 shares of the construction company’s stock after selling 75 shares during the quarter. Seelaus Asset Management LLC’s holdings in Quanta Services were worth $666,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Empowered Funds LLC raised its holdings in Quanta Services by 7.4% in the third quarter. Empowered Funds LLC now owns 2,679 shares of the construction company’s stock worth $799,000 after purchasing an additional 185 shares in the last quarter. Empirical Finance LLC increased its stake in shares of Quanta Services by 2.1% in the 3rd quarter. Empirical Finance LLC now owns 4,926 shares of the construction company’s stock worth $1,469,000 after acquiring an additional 100 shares in the last quarter. Sheaff Brock Investment Advisors LLC boosted its stake in Quanta Services by 5.4% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 2,148 shares of the construction company’s stock worth $640,000 after acquiring an additional 110 shares in the last quarter. First Business Financial Services Inc. increased its stake in shares of Quanta Services by 3.6% during the third quarter. First Business Financial Services Inc. now owns 11,746 shares of the construction company’s stock valued at $3,502,000 after purchasing an additional 403 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in shares of Quanta Services by 8.9% in the 3rd quarter. CIBC Asset Management Inc now owns 21,412 shares of the construction company’s stock worth $6,384,000 after purchasing an additional 1,742 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Insider Transactions at Quanta Services

In other news, insider Karl W. Studer sold 23,357 shares of the company’s 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 transaction, the insider now owns 10,631 shares of the company’s stock, valued at $2,875,791.81. This represents a 68.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Trading Down 0.2 %

Shares of Quanta Services stock opened at $323.33 on Friday. Quanta Services, Inc. has a 1-year low of $180.97 and a 1-year high of $335.00. The company’s fifty day simple moving average is $301.80 and its 200-day simple moving average is $277.54. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The stock has a market capitalization of $47.73 billion, a PE ratio of 59.65 and a beta of 1.01.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same period in the previous year, the business earned $2.08 earnings per share. Quanta Services’s quarterly revenue was up 15.5% compared to the same quarter last year. As a group, equities analysts anticipate that Quanta Services, Inc. will post 7.88 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were given a $0.09 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.11%. Quanta Services’s payout ratio is currently 6.64%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. B. Riley upped their price target on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Stifel Nicolaus increased their price target on shares of Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Northland Securities reissued an “outperform” rating and set a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Robert W. Baird upped their price objective on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Citigroup lifted their target price on Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

About Quanta Services

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.