SpiderRock Advisors LLC Sells 532 Shares of Quanta Services, Inc. (NYSE:PWR)

SpiderRock Advisors LLC cut its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 7.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 6,779 shares of the construction company’s stock after selling 532 shares during the period. SpiderRock Advisors LLC’s holdings in Quanta Services were worth $2,021,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PWR. Empowered Funds LLC lifted its stake in Quanta Services by 24.2% during the 1st quarter. Empowered Funds LLC now owns 1,835 shares of the construction company’s stock valued at $477,000 after acquiring an additional 357 shares in the last quarter. Forsta AP Fonden lifted its stake in Quanta Services by 9.9% during the 1st quarter. Forsta AP Fonden now owns 30,100 shares of the construction company’s stock valued at $7,820,000 after acquiring an additional 2,700 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Quanta Services during the 1st quarter valued at $4,725,000. Montag A & Associates Inc. raised its stake in shares of Quanta Services by 2,654.5% during the 1st quarter. Montag A & Associates Inc. now owns 303 shares of the construction company’s stock worth $79,000 after purchasing an additional 292 shares during the period. Finally, Concurrent Investment Advisors LLC raised its stake in shares of Quanta Services by 12.6% during the 1st quarter. Concurrent Investment Advisors LLC now owns 1,803 shares of the construction company’s stock worth $468,000 after purchasing an additional 202 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PWR has been the topic of a number of recent analyst reports. Northland Securities reiterated an “outperform” rating and set a $328.00 target price (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. JPMorgan Chase & Co. initiated coverage on Quanta Services in a research note on Monday, October 7th. They set a “neutral” rating and a $297.00 target price on the stock. Jefferies Financial Group initiated coverage on Quanta Services in a research note on Wednesday, September 4th. They set a “hold” rating and a $256.00 target price on the stock. TD Cowen lifted their target price on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, Citigroup lifted their target price on Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and an average target price of $314.27.

Quanta Services Stock Up 3.2 %

PWR stock opened at $330.98 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $48.86 billion, a PE ratio of 61.07 and a beta of 1.01. Quanta Services, Inc. has a twelve month low of $168.10 and a twelve month high of $333.24. The stock has a 50-day simple moving average of $294.93 and a two-hundred day simple moving average of $275.30.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the previous year, the firm earned $2.08 earnings per share. Quanta Services’s revenue was up 15.5% on a year-over-year basis. On average, equities analysts predict that Quanta Services, Inc. will post 7.88 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.11%. The ex-dividend date was Tuesday, October 1st. Quanta Services’s payout ratio is 6.64%.

Insider Transactions at Quanta Services

In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the business’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 completion of the transaction, the chief executive officer now owns 593,402 shares of the company’s stock, valued at approximately $155,595,938.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. Also, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the completion of the sale, the insider now directly owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

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.