E. Ohman J or Asset Management AB Cuts Stake in Quanta Services, Inc. (NYSE:PWR)

E. Ohman J or Asset Management AB lowered its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 10.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,530 shares of the construction company’s stock after selling 670 shares during the period. E. Ohman J or Asset Management AB’s holdings in Quanta Services were worth $1,649,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the business. Terra Nova Asset Management LLC grew its stake in Quanta Services by 0.3% during the 3rd quarter. Terra Nova Asset Management LLC now owns 12,779 shares of the construction company’s stock valued at $3,810,000 after acquiring an additional 38 shares in the last quarter. Greenleaf Trust boosted its holdings in Quanta Services by 1.2% in the 3rd quarter. Greenleaf Trust now owns 3,154 shares of the construction company’s stock valued at $940,000 after purchasing an additional 38 shares during the last quarter. EP Wealth Advisors LLC boosted its holdings in Quanta Services by 0.6% in the 2nd quarter. EP Wealth Advisors LLC now owns 6,994 shares of the construction company’s stock valued at $1,777,000 after purchasing an additional 39 shares during the last quarter. Whittier Trust Co. boosted its holdings in Quanta Services by 0.7% in the 3rd quarter. Whittier Trust Co. now owns 5,894 shares of the construction company’s stock valued at $1,757,000 after purchasing an additional 39 shares during the last quarter. Finally, Westside Investment Management Inc. boosted its holdings in Quanta Services by 20.5% in the 2nd quarter. Westside Investment Management Inc. now owns 241 shares of the construction company’s stock valued at $61,000 after purchasing an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Insider Activity at Quanta Services

In related news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total value of $6,318,302.07. Following the transaction, the insider now directly owns 10,631 shares of the company’s stock, valued at $2,875,791.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total value of $6,318,302.07. Following the transaction, the insider now directly owns 10,631 shares of the company’s stock, valued at $2,875,791.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 593,402 shares in the company, valued at $155,595,938.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 202,357 shares of company stock valued at $53,115,572 in the last ninety days. Insiders own 1.10% of the company’s stock.

Quanta Services Trading Down 0.5 %

Shares of NYSE:PWR opened at $308.17 on Friday. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $317.91. The company’s 50 day moving average is $286.43 and its two-hundred day moving average is $270.80. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.45. The company has a market cap of $45.40 billion, a PE ratio of 58.15 and a beta of 1.01.

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

Quanta Services Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. UBS Group upped their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday. B. Riley increased their target price on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Robert W. Baird increased their target price on shares of Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Jefferies Financial Group initiated coverage on shares of Quanta Services in a report on Wednesday, September 4th. They set a “hold” rating and a $256.00 target price on the stock. Finally, Truist Financial increased their target price on shares of Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $308.07.

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.