Malaga Cove Capital LLC Trims Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Malaga Cove Capital LLC trimmed its position in Quanta Services, Inc. (NYSE:PWR) by 2.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,624 shares of the construction company’s stock after selling 320 shares during the period. Quanta Services makes up approximately 1.9% of Malaga Cove Capital LLC’s holdings, making the stock its 8th biggest holding. Malaga Cove Capital LLC’s holdings in Quanta Services were worth $4,658,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of PWR. Electron Capital Partners LLC increased 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 worth $666,260,000 after acquiring an additional 2,092,519 shares in the last quarter. Swedbank AB bought a new stake in Quanta Services during the 1st quarter worth approximately $227,218,000. Capital World Investors raised its holdings 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 worth $1,726,042,000 after buying an additional 643,011 shares during the period. American Century Companies Inc. boosted its holdings in shares of Quanta Services by 1,445.3% in the second quarter. American Century Companies Inc. now owns 395,152 shares of the construction company’s stock valued at $100,404,000 after buying an additional 369,581 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in shares of 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 acquiring an additional 186,306 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insider Activity at Quanta Services

In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction that occurred 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the completion of the sale, the insider now owns 21,286 shares of the company’s stock, valued at approximately $5,490,297.98. The trade was 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. Insiders own 1.10% of the company’s stock.

Quanta Services Price Performance

NYSE:PWR opened at $310.82 on Thursday. Quanta Services, Inc. has a 12-month low of $163.93 and a 12-month high of $317.91. The firm has a market capitalization of $45.88 billion, a price-to-earnings ratio of 57.35 and a beta of 1.01. The stock’s 50 day moving average price is $292.81 and its two-hundred day moving average price is $274.22. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same period in the previous year, the firm earned $2.08 EPS. The firm’s revenue was up 15.5% compared to the same quarter last year. On average, analysts anticipate that Quanta Services, Inc. will post 7.83 earnings per share for the current year.

Quanta Services Announces Dividend

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

Analyst Upgrades and Downgrades

PWR has been the subject of a number of research analyst reports. Jefferies Financial Group started coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They issued a “hold” rating and a $256.00 target price for the company. Northland Securities reaffirmed an “outperform” rating and set a $328.00 price objective (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. JPMorgan Chase & Co. assumed coverage on Quanta Services in a research report on Monday, October 7th. They issued a “neutral” rating and a $297.00 target price on the stock. TD Cowen raised their price target on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, 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, November 1st. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $314.27.

About Quanta Services

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.