Sterling Investment Counsel LLC Sells 128 Shares of Quanta Services, Inc. (NYSE:PWR)

Sterling Investment Counsel LLC decreased its position in Quanta Services, Inc. (NYSE:PWR) by 15.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 699 shares of the construction company’s stock after selling 128 shares during the quarter. Sterling Investment Counsel LLC’s holdings in Quanta Services were worth $208,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in PWR. Electron Capital Partners LLC grew its stake in Quanta Services by 395.1% during the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after acquiring an additional 2,092,519 shares in the last quarter. Swedbank AB purchased a new position in Quanta Services in the 1st quarter worth approximately $227,218,000. Capital World Investors increased its stake in Quanta Services by 10.7% in the first quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock valued at $1,726,042,000 after acquiring an additional 643,011 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Quanta Services by 1,445.3% in the 2nd quarter. American Century Companies Inc. now owns 395,152 shares of the construction company’s stock worth $100,404,000 after acquiring an additional 369,581 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Quanta Services by 17.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock valued at $313,968,000 after acquiring an additional 186,306 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on PWR. TD Cowen upped their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Wolfe Research started coverage on Quanta Services in a research report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price objective on the stock. JPMorgan Chase & Co. started coverage on Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 price target on the stock. B. Riley raised their price objective on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Citigroup raised their price objective on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $303.86.

Insider Activity

In other news, COO James Redgie Probst sold 34,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $260.03, for a total value of $8,841,020.00. Following the completion of the transaction, the chief operating officer now directly owns 29,002 shares in the company, valued at $7,541,390.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Quanta Services news, COO James Redgie Probst sold 34,000 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the completion of the transaction, the chief operating officer now directly owns 29,002 shares of the company’s stock, valued at approximately $7,541,390.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the completion of the sale, the chief executive officer now owns 593,402 shares in the company, valued at approximately $155,595,938.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is currently owned by company insiders.

Quanta Services Stock Down 0.7 %

Quanta Services stock traded down $2.05 during midday trading on Wednesday, hitting $310.92. 133,698 shares of the company were exchanged, compared to its average volume of 885,793. The company has a market cap of $45.81 billion, a PE ratio of 59.03 and a beta of 1.01. The company’s fifty day moving average price is $283.89 and its 200-day moving average price is $269.95. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $317.91. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.75 by $0.15. The business had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The company’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.47 EPS. On average, research analysts predict that Quanta Services, Inc. will post 7.82 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date was Tuesday, October 1st. Quanta Services’s payout ratio is 6.79%.

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.