New York State Teachers Retirement System Trims Stake in Quanta Services, Inc. (NYSE:PWR)

New York State Teachers Retirement System cut its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 7.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 152,657 shares of the construction company's stock after selling 11,698 shares during the period. New York State Teachers Retirement System owned about 0.11% of Quanta Services worth $32,943,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Western Wealth Management LLC grew its position in Quanta Services by 3.8% during the 2nd quarter. Western Wealth Management LLC now owns 1,597 shares of the construction company's stock worth $314,000 after acquiring an additional 59 shares during the last quarter. Central Bank & Trust Co. boosted its position in Quanta Services by 2.1% in the 4th quarter. Central Bank & Trust Co. now owns 3,246 shares of the construction company's stock valued at $700,000 after buying an additional 66 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Quanta Services by 0.5% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,511 shares of the construction company's stock valued at $2,340,000 after buying an additional 67 shares during the last quarter. Czech National Bank boosted its position in Quanta Services by 0.3% in the 4th quarter. Czech National Bank now owns 25,445 shares of the construction company's stock valued at $5,491,000 after buying an additional 67 shares during the last quarter. Finally, Gray Wealth Management Inc. boosted its position in Quanta Services by 6.2% in the 3rd quarter. Gray Wealth Management Inc. now owns 1,168 shares of the construction company's stock valued at $218,000 after buying an additional 68 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Insider Transactions at Quanta Services

In related news, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total value of $4,382,650.00. Following the sale, the executive vice president now owns 263,725 shares of the company's stock, valued at approximately $62,476,452.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Quanta Services news, EVP Donald Wayne sold 595 shares of the company's stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $239.61, for a total transaction of $142,567.95. Following the completion of the transaction, the executive vice president now owns 41,954 shares of the company's stock, valued at approximately $10,052,597.94. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Derrick A. Jensen sold 18,500 shares of the company'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 value 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 disclosure for this sale can be found here. Insiders sold 47,125 shares of company stock valued at $11,270,215 over the last three months. Company insiders own 1.30% of the company's stock.

Quanta Services Trading Down 0.3 %

Quanta Services stock traded down $0.85 during mid-day trading on Monday, hitting $262.26. 533,577 shares of the company's stock were exchanged, compared to its average volume of 936,315. The firm has a market capitalization of $38.22 billion, a P/E ratio of 52.35 and a beta of 1.11. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $265.82. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.58. The company's 50 day simple moving average is $234.19 and its 200-day simple moving average is $205.01.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.83 by $0.21. The business had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.19 billion. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The firm's revenue was up 31.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.54 EPS. On average, equities analysts anticipate that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. The ex-dividend date is Monday, April 8th. Quanta Services's dividend payout ratio is 7.19%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Evercore ISI assumed coverage on Quanta Services in a research report on Tuesday, February 13th. They issued an "outperform" rating and a $237.00 price objective on the stock. The Goldman Sachs Group increased their price objective on Quanta Services from $227.00 to $259.00 and gave the company a "buy" rating in a research report on Monday, February 26th. DA Davidson increased their price objective on Quanta Services from $190.00 to $225.00 and gave the company a "neutral" rating in a research report on Wednesday, February 28th. Citigroup increased their price target on Quanta Services from $234.00 to $237.00 and gave the company a "buy" rating in a research note on Friday, January 26th. Finally, TD Cowen increased their price target on Quanta Services from $205.00 to $270.00 and gave the company an "outperform" rating in a research note on Tuesday, February 27th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $239.54.

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.