Quanta Services, Inc. $PWR Shares Sold by Whalen Wealth Management Inc.

Whalen Wealth Management Inc. reduced its position in shares of Quanta Services, Inc. (NYSE:PWR) by 79.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 723 shares of the construction company’s stock after selling 2,794 shares during the period. Whalen Wealth Management Inc.’s holdings in Quanta Services were worth $273,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Quanta Services by 2.4% during the first quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company’s stock worth $4,427,129,000 after purchasing an additional 407,878 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in shares of Quanta Services during the second quarter worth $650,960,000. Nuveen LLC acquired a new stake in Quanta Services in the first quarter valued at $404,288,000. Northern Trust Corp raised its holdings in Quanta Services by 3.8% in the first quarter. Northern Trust Corp now owns 1,545,514 shares of the construction company’s stock valued at $392,839,000 after acquiring an additional 56,081 shares in the last quarter. Finally, Amundi raised its holdings in Quanta Services by 188.3% in the first quarter. Amundi now owns 1,206,577 shares of the construction company’s stock valued at $304,139,000 after acquiring an additional 788,079 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Citigroup upped their price target on shares of Quanta Services from $490.00 to $517.00 and gave the company a “buy” rating in a report on Monday, October 20th. Evercore ISI upped their price target on shares of Quanta Services from $360.00 to $410.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Daiwa America cut shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Friday, August 1st. Seaport Res Ptn raised shares of Quanta Services to a “hold” rating in a report on Thursday, July 10th. Finally, Sanford C. Bernstein cut shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 price target on the stock. in a report on Monday, July 28th. Fourteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $414.09.

Quanta Services Stock Up 2.2%

Shares of NYSE:PWR opened at $449.28 on Thursday. The stock has a market capitalization of $66.95 billion, a price-to-earnings ratio of 69.55, a price-to-earnings-growth ratio of 2.60 and a beta of 1.04. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $459.36. The company’s fifty day moving average is $405.20 and its two-hundred day moving average is $372.57. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37.

Quanta Services (NYSE:PWR) last issued its 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 for the quarter, compared to analysts’ expectations of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The firm’s revenue was up 21.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.90 earnings per share. Equities analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st were given a dividend of $0.10 per share. The ex-dividend date was Wednesday, October 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. Quanta Services’s dividend payout ratio is currently 6.19%.

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.