New England Research & Management Inc. Has $4.24 Million Holdings in Quanta Services, Inc. (NYSE:PWR)

New England Research & Management Inc. trimmed its position in shares of Quanta Services, Inc. (NYSE:PWR) by 1.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,233 shares of the construction company’s stock after selling 275 shares during the quarter. Quanta Services accounts for approximately 2.0% of New England Research & Management Inc.’s portfolio, making the stock its 8th largest holding. New England Research & Management Inc.’s holdings in Quanta Services were worth $4,244,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PWR. Diversified Trust Co increased its stake in Quanta Services by 5.7% in the 3rd quarter. Diversified Trust Co now owns 948 shares of the construction company’s stock valued at $283,000 after buying an additional 51 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Quanta Services by 67.9% during the third quarter. GAMMA Investing LLC now owns 3,149 shares of the construction company’s stock valued at $939,000 after acquiring an additional 1,273 shares during the last quarter. Czech National Bank lifted its holdings in Quanta Services by 7.9% during the third quarter. Czech National Bank now owns 30,012 shares of the construction company’s stock worth $8,948,000 after acquiring an additional 2,185 shares during the period. Handelsbanken Fonder AB boosted its position in Quanta Services by 14.6% in the third quarter. Handelsbanken Fonder AB now owns 356,016 shares of the construction company’s stock worth $106,146,000 after purchasing an additional 45,400 shares during the last quarter. Finally, Canandaigua National Bank & Trust Co. bought a new stake in shares of Quanta Services during the 3rd quarter worth $217,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

Shares of NYSE:PWR traded up $1.79 on Monday, hitting $307.51. The company’s stock had a trading volume of 807,549 shares, compared to its average volume of 909,482. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $308.31. 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 capitalization of $45.31 billion, a PE ratio of 59.60 and a beta of 1.01. The company has a 50-day simple moving average of $271.37 and a 200 day simple moving average of $265.94.

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

Quanta Services Dividend Announcement

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

Insider Activity

In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 593,402 shares of the company’s stock, valued at $155,595,938.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the transaction, the chief executive officer now directly owns 593,402 shares of the company’s stock, valued at approximately $155,595,938.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO James Redgie Probst sold 34,000 shares of Quanta Services stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $260.03, for a total value of $8,841,020.00. Following the completion of the transaction, the chief operating officer now owns 29,002 shares in the company, valued at approximately $7,541,390.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 202,357 shares of company stock worth $53,115,572. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. TD Cowen raised 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. Wolfe Research assumed coverage on Quanta Services in a report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price objective for the company. Citigroup boosted their target price on Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a research note on Friday. Jefferies Financial Group initiated coverage on Quanta Services in a report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price objective for the company. Finally, B. Riley upped their price target on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $290.71.

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.