Quanta Services, Inc. (NYSE:PWR) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd reduced its stake in Quanta Services, Inc. (NYSE:PWR) by 4.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,483 shares of the construction company’s stock after selling 511 shares during the period. Gulf International Bank UK Ltd’s holdings in Quanta Services were worth $3,423,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allen Investment Management LLC boosted its stake in shares of Quanta Services by 1,418.0% in the 1st quarter. Allen Investment Management LLC now owns 33,396 shares of the construction company’s stock valued at $8,676,000 after buying an additional 31,196 shares during the period. Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 105,355 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Quanta Services by 5.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock valued at $9,366,000 after purchasing an additional 1,981 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Quanta Services by 115.0% during the 1st quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock worth $10,203,000 after purchasing an additional 21,003 shares during the last quarter. Finally, Czech National Bank grew its stake in shares of Quanta Services by 8.9% during the second quarter. Czech National Bank now owns 27,827 shares of the construction company’s stock worth $7,071,000 after purchasing an additional 2,264 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PWR. B. Riley lifted their price target on Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Wolfe Research assumed coverage on shares of Quanta Services in a research note on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price target on the stock. JPMorgan Chase & Co. began coverage on shares of Quanta Services in a research report on Monday, October 7th. They set a “neutral” rating and a $297.00 price objective for the company. TD Cowen upped their target price on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, UBS Group lifted their price target on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and an average price target of $314.27.

Quanta Services Trading Up 3.4 %

NYSE:PWR opened at $314.62 on Wednesday. Quanta Services, Inc. has a 12-month low of $163.93 and a 12-month high of $317.91. 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 stock’s 50 day simple moving average is $291.95 and its 200-day simple moving average is $273.96. The firm has a market cap of $46.44 billion, a P/E ratio of 58.05 and a beta of 1.01.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data 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 the consensus estimate of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. Quanta Services’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.08 EPS. Equities analysts anticipate that Quanta Services, Inc. will post 7.82 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services’s dividend payout ratio is presently 6.64%.

Insiders Place Their Bets

In related 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 directly owns 10,631 shares in the company, valued at $2,875,791.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the transaction, the insider now directly owns 21,286 shares in the company, valued at approximately $5,490,297.98. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 202,357 shares of company stock worth $53,115,572. Company insiders own 1.10% of the company’s stock.

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.