Quanta Services Inc (NYSE:PWR) Shares Acquired by California Public Employees Retirement System

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California Public Employees Retirement System lifted its holdings in shares of Quanta Services Inc (NYSE:PWR) by 14.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 392,055 shares of the construction company’s stock after buying an additional 48,322 shares during the period. California Public Employees Retirement System owned approximately 0.28% of Quanta Services worth $14,820,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of PWR. BlackRock Inc. lifted its position in Quanta Services by 23.9% in the second quarter. BlackRock Inc. now owns 10,852,772 shares of the construction company’s stock worth $414,467,000 after purchasing an additional 2,091,884 shares during the period. Invesco Ltd. lifted its position in Quanta Services by 3.3% in the second quarter. Invesco Ltd. now owns 2,220,654 shares of the construction company’s stock worth $84,806,000 after purchasing an additional 70,462 shares during the period. AQR Capital Management LLC lifted its position in Quanta Services by 38.0% in the second quarter. AQR Capital Management LLC now owns 1,862,024 shares of the construction company’s stock worth $71,111,000 after purchasing an additional 512,376 shares during the period. Rothschild & Co. Asset Management US Inc. acquired a new stake in Quanta Services in the second quarter worth approximately $67,213,000. Finally, Prudential Financial Inc. lifted its position in Quanta Services by 122.6% in the second quarter. Prudential Financial Inc. now owns 1,445,442 shares of the construction company’s stock worth $55,201,000 after purchasing an additional 796,195 shares during the period. Institutional investors and hedge funds own 85.57% of the company’s stock.

NYSE PWR opened at $42.93 on Friday. The stock has a market capitalization of $6.23 billion, a P/E ratio of 16.97 and a beta of 1.23. Quanta Services Inc has a 1 year low of $27.90 and a 1 year high of $44.09. The business’s fifty day moving average is $39.60 and its two-hundred day moving average is $37.35. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.80 and a current ratio of 1.82.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $1.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.17. The company had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.17 billion. Quanta Services had a return on equity of 12.17% and a net margin of 2.81%. The firm’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 earnings per share. On average, research analysts forecast that Quanta Services Inc will post 2.98 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a $0.04 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.16 annualized dividend and a dividend yield of 0.37%. Quanta Services’s dividend payout ratio is currently 6.32%.

In other Quanta Services news, CAO Jerry K. Lemon sold 2,750 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $43.70, for a total value of $120,175.00. Following the transaction, the chief accounting officer now owns 10,277 shares of the company’s stock, valued at $449,104.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Dorothy Upperman sold 5,764 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $43.86, for a total value of $252,809.04. Following the completion of the transaction, the vice president now directly owns 13,134 shares in the company, valued at approximately $576,057.24. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.

A number of research firms have weighed in on PWR. ValuEngine upgraded Quanta Services from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Stephens set a $42.00 target price on Quanta Services and gave the stock a “buy” rating in a research report on Friday, August 16th. Vertical Research began coverage on Quanta Services in a research report on Friday, August 23rd. They issued a “buy” rating and a $41.00 target price for the company. Stifel Nicolaus upped their target price on Quanta Services from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Finally, TheStreet upgraded Quanta Services from a “c+” rating to a “b-” rating in a research report on Wednesday, September 25th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $44.86.

Quanta Services 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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Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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