California Public Employees Retirement System Sells 8,788 Shares of Quanta Services, Inc. (NYSE:PWR)

California Public Employees Retirement System decreased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 3.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 268,723 shares of the construction company’s stock after selling 8,788 shares during the period. California Public Employees Retirement System owned 0.18% of Quanta Services worth $57,990,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Grove Bank & Trust increased its position in Quanta Services by 75.6% during the 3rd quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock valued at $30,000 after buying an additional 68 shares in the last quarter. Hazlett Burt & Watson Inc. increased its position in Quanta Services by 47.3% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after buying an additional 52 shares in the last quarter. NBC Securities Inc. bought a new position in Quanta Services during the 3rd quarter valued at approximately $36,000. Valley National Advisers Inc. bought a new position in Quanta Services during the 4th quarter valued at approximately $41,000. Finally, Planned Solutions Inc. bought a new position in Quanta Services during the 4th quarter valued at approximately $43,000. Institutional investors own 90.49% of the company’s stock.

Insider Activity at Quanta Services

In related news, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the transaction, the executive vice president now directly owns 40,065 shares in the company, valued at $10,494,626.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Quanta Services news, Director Worthing Jackman sold 9,572 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the sale, the director now directly owns 7,486 shares of the company’s stock, valued at $1,776,502.66. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Donald Wayne sold 1,101 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total value of $288,395.94. Following the sale, the executive vice president now directly owns 40,065 shares in the company, valued at $10,494,626.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,125 shares of company stock worth $11,270,215. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Price Performance

NYSE PWR opened at $255.19 on Friday. The company has a market capitalization of $37.35 billion, a PE ratio of 50.94 and a beta of 1.11. 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 business’s fifty day moving average is $245.08 and its 200 day moving average is $210.71. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $265.82.

Quanta Services (NYSE:PWR) 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. The company 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%. Quanta Services’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.54 earnings per share. Sell-side analysts predict that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, April 8th. This represents a $0.36 annualized dividend and a yield of 0.14%. Quanta Services’s dividend payout ratio (DPR) is presently 7.19%.

Analyst Ratings Changes

PWR has been the subject of a number of analyst reports. TD Cowen raised their price objective on Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th. Evercore ISI initiated coverage on Quanta Services in a research note on Tuesday, February 13th. They set an “outperform” rating and a $237.00 target price on the stock. The Goldman Sachs Group increased their target price on Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Citigroup increased their target price on Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Monday. Finally, Stifel Nicolaus increased their target price on Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Quanta Services presently has a consensus rating of “Moderate Buy” and an average target price of $247.67.

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.