Mcrae Capital Management Inc. Sells 4,142 Shares of Quanta Services, Inc. (NYSE:PWR)

Mcrae Capital Management Inc. trimmed its position in Quanta Services, Inc. (NYSE:PWR) by 4.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 90,166 shares of the construction company’s stock after selling 4,142 shares during the quarter. Quanta Services makes up 5.2% of Mcrae Capital Management Inc.’s portfolio, making the stock its 3rd biggest position. Mcrae Capital Management Inc. owned 0.06% of Quanta Services worth $22,910,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Westside Investment Management Inc. grew its stake in shares of Quanta Services by 20.5% during the second quarter. Westside Investment Management Inc. now owns 241 shares of the construction company’s stock worth $61,000 after purchasing an additional 41 shares during the period. Terra Nova Asset Management LLC increased 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 acquiring an additional 46 shares during the last quarter. Wedmont Private Capital raised its position 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 valued at $1,198,000 after acquiring an additional 47 shares during the period. Checchi Capital Advisers LLC boosted its stake in Quanta Services by 4.6% during the 4th quarter. Checchi Capital Advisers LLC now owns 1,367 shares of the construction company’s stock worth $295,000 after acquiring an additional 60 shares during the last quarter. Finally, ARS Investment Partners LLC grew its holdings in Quanta Services by 1.3% during the second quarter. ARS Investment Partners LLC now owns 4,814 shares of the construction company’s stock valued at $1,223,000 after purchasing an additional 60 shares during the period. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Up 2.1 %

PWR traded up $5.51 during trading hours on Friday, hitting $273.31. 503,596 shares of the company’s stock were exchanged, compared to its average volume of 945,343. The stock has a market cap of $40.27 billion, a price-to-earnings ratio of 53.07 and a beta of 1.03. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $286.87. The stock’s 50-day moving average is $260.90 and its two-hundred day moving average is $254.58. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. The company had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The company’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.47 EPS. Sell-side analysts predict that Quanta Services, Inc. will post 7.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Karl W. Studer sold 23,357 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total value of $6,318,302.07. Following the completion of the transaction, the insider now directly owns 10,631 shares of the company’s stock, valued at $2,875,791.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total value of $6,318,302.07. Following the sale, the insider now directly owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $3,868,950.00. Following the transaction, the insider now directly owns 21,286 shares in the company, valued at approximately $5,490,297.98. The disclosure for this sale can be found here. Insiders have sold 202,357 shares of company stock valued at $53,115,572 in the last 90 days. 1.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PWR. Northland Securities lifted their price target on shares of Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. TD Cowen boosted their target price on Quanta Services from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. The Goldman Sachs Group raised their price target on Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. DA Davidson boosted their price objective on Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Finally, Argus raised their target price on shares of Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $287.09.

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.