Braun Stacey Associates Inc. Decreases Holdings in Quanta Services, Inc. (NYSE:PWR)

Braun Stacey Associates Inc. trimmed its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 4.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 143,352 shares of the construction company's stock after selling 6,589 shares during the period. Quanta Services makes up about 1.4% of Braun Stacey Associates Inc.'s investment portfolio, making the stock its 16th biggest position. Braun Stacey Associates Inc. owned approximately 0.10% of Quanta Services worth $30,936,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of PWR. Norges Bank bought a new position in shares of Quanta Services in the 4th quarter valued at about $180,853,000. Nordea Investment Management AB boosted its position in shares of Quanta Services by 8,297.7% in the 4th quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company's stock worth $196,205,000 after purchasing an additional 901,548 shares during the last quarter. Royal Bank of Canada increased its holdings in Quanta Services by 52.2% in the first quarter. Royal Bank of Canada now owns 1,492,323 shares of the construction company's stock valued at $196,405,000 after purchasing an additional 511,508 shares during the last quarter. Deutsche Bank AG lifted its stake in Quanta Services by 113.7% in the first quarter. Deutsche Bank AG now owns 643,054 shares of the construction company's stock valued at $107,159,000 after buying an additional 342,100 shares during the period. Finally, CI Private Wealth LLC bought a new position in Quanta Services during the fourth quarter worth about $42,168,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PWR shares. Stifel Nicolaus increased their price target on shares of Quanta Services from $237.00 to $252.00 and gave the company a "buy" rating in a research report on Friday, February 23rd. DA Davidson lifted their price target on shares of Quanta Services from $190.00 to $225.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 28th. Evercore ISI initiated coverage on shares of Quanta Services in a report on Tuesday, February 13th. They issued an "outperform" rating and a $237.00 price target for the company. TD Cowen raised their price objective on Quanta Services from $205.00 to $270.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 27th. Finally, KeyCorp initiated coverage on Quanta Services in a research note on Wednesday, January 10th. They issued a "sector weight" rating for the company. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $239.54.

Quanta Services Stock Down 1.5 %

PWR traded down $3.99 on Thursday, hitting $258.30. 969,130 shares of the company were exchanged, compared to its average volume of 946,866. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47. The stock's fifty day moving average is $230.35 and its 200-day moving average is $203.52. The company has a market cap of $37.65 billion, a PE ratio of 52.78 and a beta of 1.11. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $265.82.

Quanta Services (NYSE:PWR - Get Free Report) last released its earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.21. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The business had revenue of $5.78 billion during the quarter, compared to analysts' expectations of $5.19 billion. During the same period last year, the business earned $1.54 earnings per share. The firm's revenue was up 31.0% on a year-over-year basis. Equities research analysts predict that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend is Monday, April 8th. Quanta Services's dividend payout ratio (DPR) is presently 7.19%.

Insider Buying and Selling at Quanta Services

In related news, EVP Derrick A. Jensen sold 18,500 shares of the business's stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the transaction, the executive vice president now directly owns 263,725 shares of the company's stock, valued at approximately $62,476,452.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Worthing Jackman sold 9,572 shares of Quanta Services stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the sale, the director now owns 7,486 shares of the company's stock, valued at approximately $1,776,502.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the completion of the transaction, the executive vice president now directly owns 263,725 shares in the company, valued at $62,476,452.50. The disclosure for this sale can be found here. Insiders have sold 47,125 shares of company stock worth $11,270,215 over the last 90 days. Company insiders own 1.20% of the company's stock.

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.