Quanta Services, Inc. (NYSE:PWR) Holdings Increased by New York State Common Retirement Fund

New York State Common Retirement Fund grew its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 14.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 141,433 shares of the construction company’s stock after buying an additional 17,516 shares during the quarter. New York State Common Retirement Fund owned about 0.10% of Quanta Services worth $30,521,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Carnegie Capital Asset Management LLC raised its position in shares of Quanta Services by 24.5% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 1,650 shares of the construction company’s stock worth $356,000 after buying an additional 325 shares in the last quarter. Gradient Investments LLC raised its holdings in shares of Quanta Services by 669,187.5% in the 4th quarter. Gradient Investments LLC now owns 53,543 shares of the construction company’s stock worth $11,555,000 after purchasing an additional 53,535 shares in the last quarter. Saxon Interests Inc. bought a new stake in shares of Quanta Services in the 4th quarter worth approximately $1,352,000. Nordea Investment Management AB raised its holdings in shares of Quanta Services by 8,297.7% in the 4th quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock worth $196,205,000 after purchasing an additional 901,548 shares in the last quarter. Finally, Bourgeon Capital Management LLC bought a new stake in shares of Quanta Services in the 4th quarter worth approximately $4,085,000. 90.49% of the stock is currently owned by institutional investors.

Insider Activity at Quanta Services

In related news, EVP Donald Wayne sold 1,101 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the transaction, the executive vice president now directly owns 40,065 shares in the company, valued at approximately $10,494,626.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Donald Wayne sold 1,101 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the transaction, the executive vice president now directly owns 40,065 shares in the company, valued at approximately $10,494,626.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Derrick A. Jensen sold 18,500 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the transaction, the executive vice president now owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The disclosure for this sale can be found here. Insiders sold a total of 47,125 shares of company stock worth $11,270,215 in the last ninety days. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PWR. Stifel Nicolaus boosted their target price on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Citigroup lifted their target price on shares of Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday. The Goldman Sachs Group lifted their target price on shares of Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. TD Cowen lifted their target price on shares of Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. Finally, DA Davidson boosted their price objective on shares of Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $247.67.

Quanta Services Stock Performance

PWR stock opened at $255.19 on Friday. The firm has a 50 day moving average of $245.08 and a two-hundred day moving average of $210.71. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $265.82. The company has a market capitalization of $37.35 billion, a price-to-earnings ratio of 50.94 and a beta of 1.11.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The business had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same period in the previous year, the company earned $1.54 earnings per share. Quanta Services’s revenue for the quarter was up 31.0% on a year-over-year basis. As a group, equities analysts anticipate that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend was Monday, April 8th. Quanta Services’s payout ratio is currently 7.19%.

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.