Quanta Services, Inc. (NYSE:PWR) Stock Holdings Lowered by Mcrae Capital Management Inc.

by · The Markets Daily

Mcrae Capital Management Inc. decreased its position in shares of Quanta Services, Inc. (NYSE:PWR – Free Report) by 4.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 86,331 shares of the construction company’s stock after selling 3,835 shares during the quarter. Quanta Services accounts for 5.0% of Mcrae Capital Management Inc.’s portfolio, making the stock its 2nd largest position. Mcrae Capital Management Inc. owned about 0.06% of Quanta Services worth $25,740,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PWR. Electron Capital Partners LLC grew its holdings in shares of 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 valued at $666,260,000 after buying an additional 2,092,519 shares during the last quarter. Swedbank AB purchased a new stake in shares of Quanta Services during the first quarter valued at approximately $227,218,000. Capital World Investors grew its holdings in shares of Quanta Services by 10.7% during 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 buying an additional 643,011 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Quanta Services by 1,445.3% during 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 last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position 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 valued at $313,968,000 after purchasing an additional 186,306 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Insider Transactions at Quanta Services

In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 21,286 shares of the company’s stock, valued at approximately $5,490,297.98. 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 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. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 21,286 shares of the company’s stock, valued at $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. Insiders sold a total of 202,357 shares of company stock valued at $53,115,572 over the last three months. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

PWR has been the topic of a number of research analyst reports. JPMorgan Chase & Co. initiated 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 on the stock. Stifel Nicolaus increased their price objective on shares of Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. TD Cowen increased their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Robert W. Baird increased their price objective on shares of Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Finally, 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 on the stock. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $308.07.

Read Our Latest Research Report on PWR

Quanta Services Stock Performance

Shares of NYSE PWR opened at $308.17 on Friday. The firm has a fifty day moving average price of $286.43 and a 200-day moving average price of $270.90. 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 stock has a market cap of $45.40 billion, a PE ratio of 58.15 and a beta of 1.01. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $317.91.

Quanta Services (NYSE:PWR – Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. The firm had revenue of $5.59 billion during 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 company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.47 earnings per share. Equities analysts anticipate that Quanta Services, Inc. will post 7.82 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were paid a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio (DPR) is presently 6.79%.

Quanta Services Profile

(Free Report)

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.

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