Quanta Services, Inc. (NYSE:PWR) Stock Holdings Lowered by AMI Asset Management Corp

AMI Asset Management Corp reduced its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 2.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 231,770 shares of the construction company’s stock after selling 6,163 shares during the quarter. Quanta Services accounts for approximately 3.7% of AMI Asset Management Corp’s holdings, making the stock its 6th largest holding. AMI Asset Management Corp’s holdings in Quanta Services were worth $69,102,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of PWR. Electron Capital Partners LLC grew its stake in Quanta Services by 395.1% during the 2nd quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after purchasing an additional 2,092,519 shares in the last quarter. Swedbank AB acquired a new stake in Quanta Services during the 1st quarter valued at approximately $227,218,000. Capital World Investors grew its stake in Quanta Services by 10.7% during the 1st quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock valued at $1,726,042,000 after purchasing an additional 643,011 shares in the last quarter. American Century Companies Inc. grew its stake in Quanta Services by 1,445.3% during the 2nd quarter. American Century Companies Inc. now owns 395,152 shares of the construction company’s stock valued at $100,404,000 after purchasing an additional 369,581 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Quanta Services by 17.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock worth $313,968,000 after acquiring an additional 186,306 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, COO James Redgie Probst sold 34,000 shares of Quanta Services stock in a transaction on Friday, August 9th. The stock was sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the sale, the chief operating officer now owns 29,002 shares of the company’s stock, valued at $7,541,390.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 593,402 shares of the company’s stock, valued at approximately $155,595,938.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO James Redgie Probst sold 34,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $260.03, for a total value of $8,841,020.00. Following the completion of the sale, the chief operating officer now directly owns 29,002 shares in the company, valued at $7,541,390.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 202,357 shares of company stock valued at $53,115,572 in the last quarter. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Trading Up 0.0 %

NYSE:PWR opened at $313.43 on Wednesday. The business has a 50 day simple moving average of $288.27 and a 200 day simple moving average of $271.82. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. The firm has a market capitalization of $46.18 billion, a P/E ratio of 59.14 and a beta of 1.01. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $317.91.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.15. The firm had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.47 EPS. Equities research analysts predict that Quanta Services, Inc. will post 7.82 EPS for the current 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 paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services’s payout ratio is currently 6.79%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. B. Riley lifted their target price on Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Jefferies Financial Group assumed coverage on Quanta Services in a research report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 target price for the company. TD Cowen lifted their target price on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Stifel Nicolaus lifted their target price on Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Citigroup lifted their target price on Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $308.07.

Quanta Services Company 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.