Quanta Services, Inc. (NYSE:PWR) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund reduced its stake in Quanta Services, Inc. (NYSE:PWR) by 7.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,362 shares of the construction company’s stock after selling 360 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Quanta Services were worth $1,301,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. EntryPoint Capital LLC acquired a new stake in Quanta Services in the first quarter worth approximately $25,000. Cambridge Trust Co. bought a new position in Quanta Services during the first quarter valued at about $26,000. Valley Wealth Managers Inc. acquired a new position in Quanta Services during the second quarter worth about $33,000. Quest Partners LLC bought a new stake in Quanta Services in the second quarter worth about $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new stake in Quanta Services in the 2nd quarter valued at about $38,000. 90.49% of the stock is currently owned by institutional investors.

Insider Transactions at Quanta Services

In related news, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. This represents a 68.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PWR has been the topic of a number of research reports. JPMorgan Chase & Co. started coverage on shares of Quanta Services in a report on Monday, October 7th. They issued a “neutral” rating and a $297.00 target price on the stock. 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. Northland Securities restated an “outperform” rating and issued a $328.00 target price (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. TD Cowen upped their target price on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, Stifel Nicolaus lifted their price target on Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

Quanta Services Trading Down 0.2 %

NYSE PWR opened at $323.33 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 1-year low of $180.97 and a 1-year high of $335.00. The firm’s fifty day simple moving average is $301.80 and its 200-day simple moving average is $277.68. The company 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 posted its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period last year, the business earned $2.08 EPS. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 7.88 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

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

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.