Quanta Services, Inc. (NYSE:PWR) Shares Sold by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC cut its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 4.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 26,960 shares of the construction company’s stock after selling 1,260 shares during the period. Catalyst Capital Advisors LLC’s holdings in Quanta Services were worth $8,038,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Quanta Services by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock valued at $4,245,452,000 after buying an additional 105,355 shares during the last quarter. JPMorgan Chase & Co. grew its position in Quanta Services by 2.4% in the 1st quarter. JPMorgan Chase & Co. now owns 6,760,260 shares of the construction company’s stock worth $1,756,316,000 after purchasing an additional 156,627 shares during the last quarter. Capital World Investors boosted its holdings in shares of Quanta Services by 10.7% in the first quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock valued at $1,726,042,000 after acquiring an additional 643,011 shares in the last quarter. Electron Capital Partners LLC boosted its holdings in shares of Quanta Services by 395.1% in the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after acquiring an additional 2,092,519 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Quanta Services by 17.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock worth $313,968,000 after buying an additional 186,306 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Up 0.3 %

PWR stock opened at $304.32 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average is $291.06 and its 200 day moving average is $273.46. The stock has a market cap of $44.92 billion, a price-to-earnings ratio of 56.15 and a beta of 1.01. Quanta Services, Inc. has a 1-year low of $163.93 and a 1-year high of $317.91.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 EPS 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 analyst estimates of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm’s revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.08 earnings per share. Sell-side analysts predict that Quanta Services, Inc. will post 7.82 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were issued a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 annualized dividend and a yield of 0.12%. Quanta Services’s payout ratio is 6.64%.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the sale, the insider now owns 10,631 shares of the company’s stock, valued at $2,875,791.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Quanta Services news, COO James Redgie Probst sold 34,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the transaction, the chief operating officer now owns 29,002 shares in the company, valued at approximately $7,541,390.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 10,631 shares in the company, valued at $2,875,791.81. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 202,357 shares of company stock worth $53,115,572 in the last three months. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PWR shares. Wolfe Research began coverage on shares of Quanta Services in a research report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price target for the company. Stifel Nicolaus lifted their price target on shares of Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. assumed coverage on shares of Quanta Services in a report on Monday, October 7th. They set a “neutral” rating and a $297.00 price objective for the company. Robert W. Baird boosted their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Citigroup upped their price target on shares of Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $314.27.

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.