Arizona State Retirement System trimmed its holdings in Quanta Services Inc (NYSE:PWR) by 9.5% during the first quarter, HoldingsChannel.com reports. The firm owned 27,143 shares of the construction company’s stock after selling 2,861 shares during the quarter. Arizona State Retirement System’s holdings in Quanta Services were worth $1,024,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Fort L.P. purchased a new position in shares of Quanta Services in the 4th quarter worth approximately $39,000. Private Capital Group LLC boosted its stake in shares of Quanta Services by 79.6% in the 4th quarter. Private Capital Group LLC now owns 1,690 shares of the construction company’s stock worth $51,000 after buying an additional 749 shares during the last quarter. Valeo Financial Advisors LLC boosted its stake in shares of Quanta Services by 2,541.8% in the 1st quarter. Valeo Financial Advisors LLC now owns 1,453 shares of the construction company’s stock worth $55,000 after buying an additional 1,398 shares during the last quarter. CSat Investment Advisory L.P. boosted its stake in shares of Quanta Services by 53.7% in the 4th quarter. CSat Investment Advisory L.P. now owns 1,858 shares of the construction company’s stock worth $56,000 after buying an additional 649 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Quanta Services by 68.9% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,091 shares of the construction company’s stock worth $79,000 after buying an additional 853 shares during the last quarter. 87.20% of the stock is currently owned by institutional investors.
In related news, insider James Redgie Probst sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $40.00, for a total value of $4,000,000.00. Following the transaction, the insider now owns 47,420 shares in the company, valued at $1,896,800. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Donald Wayne sold 1,295 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $36.09, for a total value of $46,736.55. Following the completion of the transaction, the executive vice president now owns 30,054 shares in the company, valued at approximately $1,084,648.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 105,295 shares of company stock worth $4,193,257. 1.20% of the stock is owned by company insiders.
Quanta Services stock opened at $35.67 on Thursday. Quanta Services Inc has a 12 month low of $27.90 and a 12 month high of $41.00. The company has a current ratio of 2.00, a quick ratio of 1.95 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $5.03 billion, a P/E ratio of 14.10 and a beta of 1.07.
Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, May 2nd. The construction company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.83 by $0.13. Quanta Services had a return on equity of 12.71% and a net margin of 3.25%. The business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter in the prior year, the business earned $0.40 earnings per share. Quanta Services’s revenue for the quarter was up 16.1% on a year-over-year basis. On average, analysts predict that Quanta Services Inc will post 3.34 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 5th were paid a $0.04 dividend. The ex-dividend date was Thursday, April 4th. This represents a $0.16 annualized dividend and a yield of 0.45%. Quanta Services’s payout ratio is 6.32%.
A number of equities analysts have recently weighed in on the company. Citigroup set a $47.00 target price on Quanta Services and gave the stock a “buy” rating in a research note on Friday, May 3rd. DA Davidson downgraded Quanta Services from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 16th. Zacks Investment Research upgraded Quanta Services from a “sell” rating to a “hold” rating and set a $41.00 target price on the stock in a research note on Monday, February 25th. ValuEngine upgraded Quanta Services from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. Finally, B. Riley restated a “buy” rating and issued a $47.00 target price (down previously from $56.00) on shares of Quanta Services in a research note on Monday, March 11th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $42.80.
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Quanta Services Company Profile
Quanta Services, Inc provides specialty contracting services in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment designs, installs, upgrades, repairs, and maintains electric power transmission and distribution infrastructure, and substation facilities, as well as provides other engineering and technical services; designs, installs, maintains, and repairs commercial and industrial wiring; and operates a postsecondary educational institution.
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