Catalyst Capital Advisors LLC Trims Stake in Quanta Services, Inc. (NYSE:PWR)

Catalyst Capital Advisors LLC reduced its position in shares of Quanta Services, Inc. (NYSE:PWR) by 4.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,960 shares of the construction company’s stock after selling 1,260 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Quanta Services were worth $8,038,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. EntryPoint Capital LLC purchased a new position in Quanta Services during the 1st quarter worth $25,000. Salomon & Ludwin LLC purchased a new position in shares of Quanta Services in the 1st quarter valued at $26,000. Cambridge Trust Co. purchased a new position in shares of Quanta Services in the 1st quarter valued at $26,000. Valley Wealth Managers Inc. purchased a new position in shares of Quanta Services in the 2nd quarter valued at $33,000. Finally, Quest Partners LLC purchased a new position in shares of Quanta Services in the 2nd quarter valued at $35,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 593,402 shares in the company, valued at approximately $155,595,938.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $257.93, for a total value of $3,868,950.00. Following the transaction, the insider now directly owns 21,286 shares in the company, valued at approximately $5,490,297.98. This 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. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total value of $34,087,300.00. Following the completion of the transaction, the chief executive officer now owns 593,402 shares in the company, valued at $155,595,938.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 202,357 shares of company stock worth $53,115,572. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Stock Performance

NYSE PWR opened at $304.32 on Tuesday. The stock has a 50-day simple moving average of $291.06 and a two-hundred day simple moving average of $273.46. The firm has a market capitalization of $44.92 billion, a P/E ratio of 56.15 and a beta of 1.01. Quanta Services, Inc. has a fifty-two week low of $163.93 and a fifty-two week high of $317.91. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the previous year, the business earned $2.08 EPS. Quanta Services’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, equities analysts forecast that Quanta Services, Inc. will post 7.82 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 annualized dividend and a yield of 0.12%. Quanta Services’s dividend payout ratio (DPR) is currently 6.64%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PWR. Stifel Nicolaus lifted their price target on Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. initiated coverage on Quanta Services in a research report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price objective for the company. Northland Securities reissued an “outperform” rating and issued a $328.00 price objective (up previously from $280.00) on shares of Quanta Services in a research report on Friday. TD Cowen raised their price objective on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, Citigroup raised their price objective on Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $314.27.

About Quanta Services

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.