Public Sector Pension Investment Board Increases Stock Position in Quanta Services, Inc. (NYSE:PWR)

Public Sector Pension Investment Board increased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 4,701.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 153,559 shares of the construction company’s stock after purchasing an additional 150,361 shares during the period. Public Sector Pension Investment Board owned 0.10% of Quanta Services worth $39,018,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Nomura Holdings Inc. purchased a new stake in shares of Quanta Services in the fourth quarter valued at $631,000. Wellington Management Group LLP boosted its position in Quanta Services by 581.3% during the fourth quarter. Wellington Management Group LLP now owns 117,014 shares of the construction company’s stock worth $25,252,000 after acquiring an additional 99,840 shares during the last quarter. Vanguard Group Inc. grew its stake in Quanta Services by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 16,235,875 shares of the construction company’s stock worth $3,503,702,000 after acquiring an additional 191,334 shares during the period. Allen Investment Management LLC raised its holdings in 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 acquiring an additional 31,196 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its stake in shares of Quanta Services by 20,298.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,057,681 shares of the construction company’s stock worth $228,248,000 after purchasing an additional 1,052,496 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Insider Activity

In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business’s 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 sale, the insider now owns 21,286 shares of the company’s stock, valued at $5,490,297.98. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total value of $34,087,300.00. Following the transaction, the chief executive officer now directly owns 593,402 shares in the company, valued at approximately $155,595,938.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $257.93, for a total value of $3,868,950.00. Following the sale, the insider now directly owns 21,286 shares of the company’s stock, valued at $5,490,297.98. The disclosure for this sale can be found here. Insiders sold 202,357 shares of company stock worth $53,115,572 over the last three months. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Price Performance

Shares of PWR opened at $290.89 on Monday. 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 company has a market cap of $42.58 billion, a P/E ratio of 56.37 and a beta of 1.01. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $293.80. The stock has a fifty day moving average price of $262.17 and a 200 day moving average price of $261.71.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. The business had revenue of $5.59 billion for 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 quarter last year, the company earned $1.47 EPS. On average, research analysts forecast that Quanta Services, Inc. will post 7.82 earnings per share for the current year.

Quanta Services Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. The Goldman Sachs Group upped their price target on shares of Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Argus lifted their target price on Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Jefferies Financial Group initiated coverage on Quanta Services in a research note on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price objective on the stock. TD Cowen boosted their price objective on shares of Quanta Services from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, B. Riley lifted their target price on Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and a consensus target price of $286.69.

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.