New York State Common Retirement Fund Decreases Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

New York State Common Retirement Fund lessened its holdings in Quanta Services, Inc. (NYSE:PWR) by 13.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 104,590 shares of the construction company’s stock after selling 16,955 shares during the quarter. New York State Common Retirement Fund owned approximately 0.07% of Quanta Services worth $31,184,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Private Advisor Group LLC grew its position in shares of Quanta Services by 3.4% in the 1st quarter. Private Advisor Group LLC now owns 8,589 shares of the construction company’s stock valued at $2,232,000 after buying an additional 286 shares during the last quarter. Graypoint LLC purchased a new position in shares of Quanta Services during the first quarter worth about $207,000. Salomon & Ludwin LLC acquired a new stake in shares of Quanta Services during the first quarter worth about $26,000. Central Pacific Bank Trust Division purchased a new stake in shares of Quanta Services in the 1st quarter valued at about $990,000. Finally, RiverPark Advisors LLC boosted its position in shares of Quanta Services by 432.6% in the 1st quarter. RiverPark Advisors LLC now owns 735 shares of the construction company’s stock valued at $191,000 after purchasing an additional 597 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PWR shares. UBS Group boosted their price objective on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wolfe Research started coverage on shares of Quanta Services in a report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 target price on the stock. TD Cowen increased their price target on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Citigroup lifted their price objective on shares of Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Finally, Jefferies Financial Group began coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They set a “hold” rating and a $256.00 target price for the company. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $314.27.

Insider Buying and Selling

In related news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction on 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 completion of the transaction, the insider now directly owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, 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 value of $6,318,302.07. Following the sale, the insider now directly owns 10,631 shares in the company, valued at $2,875,791.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total value of $34,087,300.00. Following the transaction, the chief executive officer now owns 593,402 shares of the company’s stock, valued at $155,595,938.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 202,357 shares of company stock worth $53,115,572 in the last quarter. Company insiders own 1.10% of the company’s stock.

Quanta Services Trading Up 0.6 %

NYSE:PWR opened at $303.50 on Monday. Quanta Services, Inc. has a 1 year low of $163.93 and a 1 year high of $317.91. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 1.23. The stock has a fifty day moving average price of $290.40 and a two-hundred day moving average price of $272.85. The stock has a market capitalization of $44.71 billion, a price-to-earnings ratio of 56.00 and a beta of 1.01.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business’s revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.08 EPS. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 7.82 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.12%. The ex-dividend date was Tuesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is 6.64%.

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.