Kentucky Retirement Systems Insurance Trust Fund Has $1.30 Million Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in Quanta Services, Inc. (NYSE:PWR) by 7.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,362 shares of the construction company’s stock after selling 360 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Quanta Services were worth $1,301,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of PWR. Empowered Funds LLC grew its position in shares of Quanta Services by 24.2% in the first quarter. Empowered Funds LLC now owns 1,835 shares of the construction company’s stock valued at $477,000 after purchasing an additional 357 shares during the last quarter. Blair William & Co. IL grew its holdings in Quanta Services by 3.0% in the 1st quarter. Blair William & Co. IL now owns 23,091 shares of the construction company’s stock valued at $5,999,000 after buying an additional 665 shares during the last quarter. Vanguard Group Inc. increased its position in Quanta Services by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock worth $4,245,452,000 after buying an additional 105,355 shares during the period. Covestor Ltd boosted its position in shares of Quanta Services by 25.2% in the first quarter. Covestor Ltd now owns 487 shares of the construction company’s stock valued at $127,000 after acquiring an additional 98 shares during the period. Finally, Resurgent Financial Advisors LLC grew its stake in shares of Quanta Services by 1.9% in the first quarter. Resurgent Financial Advisors LLC now owns 4,795 shares of the construction company’s stock worth $1,246,000 after acquiring an additional 88 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PWR has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on shares of Quanta Services in a report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price target for the company. 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. Robert W. Baird raised their price objective on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. UBS Group lifted their price objective on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, TD Cowen lifted their price target on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

Insiders Place Their Bets

In other news, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the transaction, the insider now directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. This represents a 68.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Quanta Services Price Performance

NYSE:PWR opened at $323.33 on Friday. The firm has a market cap of $47.73 billion, a PE ratio of 59.65 and a beta of 1.01. The company’s 50-day moving average price is $301.80 and its two-hundred day moving average price is $277.68. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 12 month low of $180.97 and a 12 month high of $335.00.

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

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 annualized dividend and a yield of 0.11%. Quanta Services’s dividend payout ratio (DPR) is 6.64%.

Quanta Services 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.