Quanta Services, Inc. (NYSE:PWR) Stock Holdings Decreased by Archer Investment Corp

Archer Investment Corp lowered its stake in Quanta Services, Inc. (NYSE:PWR) by 19.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 5,255 shares of the construction company’s stock after selling 1,245 shares during the period. Archer Investment Corp’s holdings in Quanta Services were worth $1,567,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of PWR. Empowered Funds LLC grew its position in shares of Quanta Services by 24.2% during the 1st quarter. Empowered Funds LLC now owns 1,835 shares of the construction company’s stock valued at $477,000 after buying an additional 357 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Quanta Services by 4.4% during the 1st quarter. Russell Investments Group Ltd. now owns 66,231 shares of the construction company’s stock valued at $17,205,000 after buying an additional 2,767 shares during the last quarter. US Bancorp DE grew its position in shares of Quanta Services by 2.0% during the 1st quarter. US Bancorp DE now owns 13,603 shares of the construction company’s stock valued at $3,534,000 after buying an additional 270 shares during the last quarter. First Eagle Investment Management LLC grew its position in shares of Quanta Services by 337.8% during the 1st quarter. First Eagle Investment Management LLC now owns 2,233 shares of the construction company’s stock valued at $580,000 after buying an additional 1,723 shares during the last quarter. Finally, Kingsview Wealth Management LLC boosted its stake in Quanta Services by 8.3% during the 1st quarter. Kingsview Wealth Management LLC now owns 7,923 shares of the construction company’s stock valued at $2,058,000 after purchasing an additional 607 shares during the period. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

PWR traded up $0.50 during trading on Friday, hitting $324.37. The stock had a trading volume of 67,375 shares, compared to its average volume of 892,631. The firm has a market cap of $47.88 billion, a PE ratio of 59.75 and a beta of 1.01. Quanta Services, Inc. has a 12 month low of $180.97 and a 12 month high of $335.00. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The company has a 50 day simple moving average of $300.29 and a 200-day simple moving average of $277.12.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.46 by $0.26. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.08 EPS. Analysts expect that Quanta Services, Inc. will post 7.88 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were given a $0.09 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $0.36 annualized dividend and a yield of 0.11%. Quanta Services’s dividend payout ratio is 6.64%.

Insiders Place Their Bets

In other news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the sale, the insider now directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. The trade was a 68.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PWR. Jefferies Financial Group began coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They set a “hold” rating and a $256.00 target price for the company. Citigroup boosted their target price on shares of Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Stifel Nicolaus upped their price target on shares of Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. TD Cowen upped their price target on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, Northland Securities reaffirmed an “outperform” rating and issued a $328.00 price target (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $314.27.

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.