Quanta Services, Inc. (NYSE:PWR) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its position in shares of Quanta Services, Inc. (NYSE:PWR) by 3.2% during the fourth quarter, Holdings Channel reports. The fund owned 268,723 shares of the construction company’s stock after selling 8,788 shares during the quarter. California Public Employees Retirement System’s holdings in Quanta Services were worth $57,990,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Grove Bank & Trust boosted its position in Quanta Services by 75.6% during the third quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock worth $30,000 after acquiring an additional 68 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its position in Quanta Services by 47.3% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after acquiring an additional 52 shares during the last quarter. NBC Securities Inc. acquired a new stake in Quanta Services during the third quarter worth approximately $36,000. Valley National Advisers Inc. acquired a new stake in Quanta Services during the fourth quarter worth approximately $41,000. Finally, Planned Solutions Inc. acquired a new stake in Quanta Services during the fourth quarter worth approximately $43,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insiders Place Their Bets

In other Quanta Services news, Director Worthing Jackman sold 9,572 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the transaction, the director now directly owns 7,486 shares of the company’s stock, valued at approximately $1,776,502.66. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Quanta Services news, Director Margaret B. Shannon sold 8,515 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $239.92, for a total transaction of $2,042,918.80. Following the completion of the transaction, the director now directly owns 34,063 shares of the company’s stock, valued at approximately $8,172,394.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Worthing Jackman sold 9,572 shares of Quanta Services stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the transaction, the director now directly owns 7,486 shares of the company’s stock, valued at $1,776,502.66. The disclosure for this sale can be found here. Insiders sold a total of 47,125 shares of company stock valued at $11,270,215 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Price Performance

PWR opened at $255.19 on Friday. The company has a fifty day simple moving average of $245.08 and a 200 day simple moving average of $210.71. The firm has a market cap of $37.35 billion, a price-to-earnings ratio of 50.94 and a beta of 1.11. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $265.82. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.58.

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

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th were issued 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 dividend payout ratio is currently 7.19%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PWR shares. Evercore ISI started coverage on shares of Quanta Services in a research note on Tuesday, February 13th. They set an “outperform” rating and a $237.00 price target on the stock. Truist Financial started coverage on shares of Quanta Services in a research note on Thursday, March 14th. They set a “buy” rating and a $301.00 price target on the stock. Stifel Nicolaus increased their price target on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Citigroup increased their price target on shares of Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday. Finally, The Goldman Sachs Group raised their target price on shares of Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $247.67.

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.