Oregon Public Employees Retirement Fund lessened its holdings in Quanta Services Inc (NYSE:PWR) by 6.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,402 shares of the construction company’s stock after selling 800 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Quanta Services were worth $487,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Howe & Rusling Inc. increased its position in Quanta Services by 144.6% during the 2nd quarter. Howe & Rusling Inc. now owns 658 shares of the construction company’s stock worth $26,000 after buying an additional 389 shares during the period. Verus Capital Partners LLC bought a new position in Quanta Services during the 4th quarter worth $59,000. Arden Trust Co bought a new position in Quanta Services during the 1st quarter worth $63,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Quanta Services during the 2nd quarter worth $78,000. Finally, Parallel Advisors LLC increased its position in Quanta Services by 18.4% during the 1st quarter. Parallel Advisors LLC now owns 2,631 shares of the construction company’s stock worth $83,000 after buying an additional 409 shares during the period. Institutional investors and hedge funds own 92.85% of the company’s stock.
NYSE:PWR opened at $39.97 on Friday. The stock’s 50-day simple moving average is $38.88 and its 200 day simple moving average is $36.68. The firm has a market capitalization of $5.50 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 0.98 and a beta of 1.15. The company has a quick ratio of 1.75, a current ratio of 1.78 and a debt-to-equity ratio of 0.47. Quanta Services Inc has a twelve month low of $23.77 and a twelve month high of $44.09.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.50%. The ex-dividend date was Tuesday, June 30th. Quanta Services’s dividend payout ratio (DPR) is presently 6.56%.
In related news, VP Dorothy Upperman sold 5,617 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $42.00, for a total value of $235,914.00. Following the sale, the vice president now directly owns 12,041 shares of the company’s stock, valued at $505,722. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.40% of the company’s stock.
Several research firms have weighed in on PWR. B. Riley increased their price objective on Quanta Services from $42.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, July 17th. ValuEngine cut Quanta Services from a “hold” rating to a “sell” rating in a research report on Thursday, May 21st. Zacks Investment Research raised Quanta Services from a “sell” rating to a “hold” rating and set a $36.00 target price on the stock in a report on Monday, May 4th. Northland Securities initiated coverage on Quanta Services in a report on Thursday, May 28th. They set an “outperform” rating and a $44.00 target price on the stock. Finally, Stifel Nicolaus increased their target price on Quanta Services from $46.00 to $50.00 in a report on Tuesday, June 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $45.50.
About Quanta Services
Quanta Services, Inc provides specialty contracting services in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment designs, installs, upgrades, repairs, and maintains electric power transmission and distribution infrastructure, and substation facilities, as well as provides other engineering and technical services; designs, installs, maintains, and repairs commercial and industrial wiring; and operates a postsecondary educational institution.
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