First Trust Advisors LP Decreases Stake in Quanta Services Inc (NYSE:PWR)

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First Trust Advisors LP reduced its stake in Quanta Services Inc (NYSE:PWR) by 21.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 194,705 shares of the construction company’s stock after selling 52,165 shares during the period. First Trust Advisors LP owned about 0.14% of Quanta Services worth $7,638,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in PWR. Massachusetts Financial Services Co. MA increased its stake in Quanta Services by 89.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,316,223 shares of the construction company’s stock worth $105,224,000 after purchasing an additional 1,567,117 shares during the period. Norges Bank purchased a new position in Quanta Services in the 4th quarter worth approximately $58,726,000. Ceredex Value Advisors LLC purchased a new position in Quanta Services in the 1st quarter worth approximately $42,779,000. BlackRock Inc. increased its stake in Quanta Services by 9.5% in the 1st quarter. BlackRock Inc. now owns 13,817,414 shares of the construction company’s stock worth $438,426,000 after purchasing an additional 1,201,086 shares during the period. Finally, Frontier Capital Management Co. LLC increased its stake in Quanta Services by 21.2% in the 1st quarter. Frontier Capital Management Co. LLC now owns 3,155,183 shares of the construction company’s stock worth $100,114,000 after purchasing an additional 552,598 shares during the period. 92.85% of the stock is currently owned by institutional investors and hedge funds.

NYSE PWR opened at $39.97 on Friday. 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 has a market capitalization of $5.50 billion, a PE ratio of 18.42, a P/E/G ratio of 0.98 and a beta of 1.15. The stock’s 50 day moving average is $38.88 and its 200 day moving average is $36.68.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, May 7th. The construction company reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.01. Quanta Services had a return on equity of 9.72% and a net margin of 2.65%. The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the previous year, the company posted $0.96 earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, research analysts anticipate that Quanta Services Inc will post 2.83 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Tuesday, June 30th. Quanta Services’s dividend payout ratio (DPR) is 6.56%.

In other Quanta Services news, VP Dorothy Upperman sold 5,617 shares of the business’s stock in a transaction on 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.40% of the company’s stock.

PWR has been the topic of several research analyst reports. B. Riley boosted their target price on Quanta Services from $42.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, July 17th. Credit Suisse Group reduced their target price on Quanta Services from $48.00 to $47.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. ValuEngine cut Quanta Services from a “hold” rating to a “sell” rating in a research note on Thursday, May 21st. UBS Group reduced their target price on Quanta Services from $51.00 to $47.00 and set a “buy” rating on the stock in a research note on Thursday, May 28th. Finally, KeyCorp boosted their target price on Quanta Services from $38.00 to $45.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $45.50.

Quanta Services Company Profile

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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Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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