Pacer Advisors Inc. Sells 4,267 Shares of Quanta Services, Inc. (NYSE:PWR)

Pacer Advisors Inc. lowered its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 35.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,863 shares of the construction company's stock after selling 4,267 shares during the quarter. Pacer Advisors Inc.'s holdings in Quanta Services were worth $1,999,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Banque Transatlantique SA bought a new stake in Quanta Services during the fourth quarter worth $25,000. Cullen Frost Bankers Inc. acquired a new position in Quanta Services in the 1st quarter worth about $25,000. Quarry LP acquired a new position in Quanta Services during the 4th quarter worth about $26,000. OLD Second National Bank of Aurora acquired a new position in Quanta Services during the 1st quarter worth about $42,000. Finally, Sound Income Strategies LLC lifted its holdings in Quanta Services by 77.9% during the 1st quarter. Sound Income Strategies LLC now owns 185 shares of the construction company's stock worth $47,000 after buying an additional 81 shares during the period. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Stock Down 2.7%

Shares of PWR traded down $10.95 during midday trading on Friday, reaching $395.18. 2,094,000 shares of the stock were exchanged, compared to its average volume of 1,116,995. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $424.94. The firm has a 50 day simple moving average of $375.39 and a 200-day simple moving average of $319.00. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. The company has a market cap of $58.59 billion, a price-to-earnings ratio of 61.17, a P/E/G ratio of 2.79 and a beta of 1.08.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. The company had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%. The business's quarterly revenue was up 21.1% on a year-over-year basis. During the same period last year, the business earned $1.90 EPS. Research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st were paid a $0.10 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services's payout ratio is presently 6.19%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PWR shares. Citigroup upped their price objective on shares of Quanta Services from $432.00 to $492.00 and gave the company a "buy" rating in a report on Monday, July 28th. DA Davidson raised their price objective on Quanta Services from $305.00 to $395.00 and gave the company a "neutral" rating in a report on Friday. Northland Capmk downgraded Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. BMO Capital Markets lowered Quanta Services from an "outperform" rating to a "market perform" rating and increased their target price for the stock from $352.00 to $400.00 in a research report on Thursday, July 17th. Finally, Northland Securities downgraded shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 target price on the stock. in a research note on Wednesday, July 2nd. Eleven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $379.32.

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.