Quanta Services, Inc. (NYSE:PWR) Holdings Decreased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its holdings in Quanta Services, Inc. (NYSE:PWR) by 19.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 515,721 shares of the construction company’s stock after selling 120,924 shares during the period. Thrivent Financial for Lutherans owned about 0.35% of Quanta Services worth $131,040,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Westside Investment Management Inc. raised its stake in shares of Quanta Services by 20.5% in the 2nd quarter. Westside Investment Management Inc. now owns 241 shares of the construction company’s stock valued at $61,000 after buying an additional 41 shares in the last quarter. Ameritas Advisory Services LLC lifted its stake in Quanta Services by 5.0% during the second quarter. Ameritas Advisory Services LLC now owns 876 shares of the construction company’s stock worth $223,000 after purchasing an additional 42 shares during the period. Aspen Investment Management Inc boosted its holdings in Quanta Services by 3.7% during the second quarter. Aspen Investment Management Inc now owns 1,254 shares of the construction company’s stock valued at $319,000 after purchasing an additional 45 shares in the last quarter. Terra Nova Asset Management LLC grew its stake in shares of Quanta Services by 0.4% in the 2nd quarter. Terra Nova Asset Management LLC now owns 12,741 shares of the construction company’s stock valued at $3,237,000 after purchasing an additional 46 shares during the period. Finally, Wedmont Private Capital raised its holdings in shares of Quanta Services by 1.0% in the 1st quarter. Wedmont Private Capital now owns 4,674 shares of the construction company’s stock worth $1,198,000 after buying an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on PWR shares. TD Cowen upped their price target on Quanta Services from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Robert W. Baird increased their target price on shares of Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Northland Securities upped their price objective on shares of Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. 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. Finally, Wolfe Research started coverage on Quanta Services in a research report on Thursday. They set an “outperform” rating and a $313.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $286.69.

Insider Buying and Selling at Quanta Services

In other news, COO James Redgie Probst sold 34,000 shares of Quanta Services stock in a transaction 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 directly owns 29,002 shares of the company’s stock, valued at $7,541,390.06. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, COO James Redgie Probst sold 34,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the completion of the sale, the chief operating officer now directly owns 29,002 shares of the company’s stock, valued at approximately $7,541,390.06. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business’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 sale, the insider now directly owns 21,286 shares in the company, valued at $5,490,297.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 202,357 shares of company stock valued at $53,115,572. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Trading Up 0.4 %

PWR opened at $290.89 on Friday. The firm has a 50 day simple moving average of $262.17 and a 200 day simple moving average of $261.42. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $293.80. The company has a market cap of $42.58 billion, a price-to-earnings ratio of 56.37 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. The company had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.47 EPS. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 7.82 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend is Tuesday, October 1st. Quanta Services’s payout ratio is 6.98%.

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.