Quanta Services, Inc. (NYSE:PWR) is Burr Financial Services LLC’s 10th Largest Position

Burr Financial Services LLC lessened its stake in Quanta Services, Inc. (NYSE:PWR) by 3.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 9,618 shares of the construction company’s stock after selling 305 shares during the quarter. Quanta Services comprises 2.0% of Burr Financial Services LLC’s portfolio, making the stock its 10th largest holding. Burr Financial Services LLC’s holdings in Quanta Services were worth $2,868,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Electron Capital Partners LLC boosted its position in Quanta Services by 395.1% during the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock worth $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 position in shares of Quanta Services by 1,445.3% in the 2nd quarter. American Century Companies Inc. now owns 395,152 shares of the construction company’s stock worth $100,404,000 after acquiring 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.

Quanta Services Price Performance

Shares of NYSE PWR opened at $311.50 on Thursday. The stock has a market capitalization of $45.89 billion, a P/E ratio of 58.77 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $317.91. The company’s 50-day moving average is $288.27 and its 200 day moving average is $271.82.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. The firm had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.47 earnings per share. On average, sell-side analysts expect that Quanta Services, Inc. will post 7.82 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were given a $0.09 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $0.36 annualized dividend and a yield of 0.12%. Quanta Services’s payout ratio is presently 6.79%.

Insiders Place Their Bets

In related news, insider Karl W. Studer sold 23,357 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were 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 directly owns 593,402 shares of the company’s stock, valued at $155,595,938.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Karl W. Studer sold 23,357 shares of the company’s 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 transaction, the insider now owns 10,631 shares of the company’s stock, valued at $2,875,791.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 202,357 shares of company stock worth $53,115,572. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PWR shares. TD Cowen raised their price target on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Citigroup lifted their price objective on Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a research report on Friday, October 4th. B. Riley upped their price objective on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Robert W. Baird upped their price objective on Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Finally, UBS Group increased their price target on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.