Gulf International Bank UK Ltd Sells 511 Shares of Quanta Services, Inc. (NYSE:PWR)

Gulf International Bank UK Ltd trimmed its position in Quanta Services, Inc. (NYSE:PWR) by 4.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,483 shares of the construction company’s stock after selling 511 shares during the period. Gulf International Bank UK Ltd’s holdings in Quanta Services were worth $3,423,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Private Advisor Group LLC raised its stake in Quanta Services by 3.4% in the first quarter. Private Advisor Group LLC now owns 8,589 shares of the construction company’s stock valued at $2,232,000 after buying an additional 286 shares during the last quarter. Mediolanum International Funds Ltd purchased a new stake in Quanta Services during the 1st quarter worth approximately $3,121,000. Csenge Advisory Group increased its stake in Quanta Services by 24.1% during the 1st quarter. Csenge Advisory Group now owns 3,321 shares of the construction company’s stock valued at $863,000 after purchasing an additional 645 shares in the last quarter. Kayne Anderson Capital Advisors LP acquired a new stake in shares of Quanta Services during the first quarter worth $9,262,000. Finally, Empirical Finance LLC grew its holdings in shares of Quanta Services by 3.5% during the first quarter. Empirical Finance LLC now owns 5,107 shares of the construction company’s stock valued at $1,327,000 after buying an additional 175 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Up 3.4 %

Shares of PWR opened at $314.62 on Wednesday. Quanta Services, Inc. has a one year low of $163.93 and a one year high of $317.91. The stock has a market capitalization of $46.44 billion, a price-to-earnings ratio of 58.05 and a beta of 1.01. The stock has a 50 day moving average price of $291.95 and a 200 day moving average price of $273.96. 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 data on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.46 by $0.26. The company had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. Quanta Services’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.08 EPS. Equities research analysts forecast 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. Shareholders of record on Tuesday, October 1st were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.11%. The ex-dividend date was Tuesday, October 1st. Quanta Services’s payout ratio is currently 6.64%.

Insiders Place Their Bets

In related news, COO James Redgie Probst sold 34,000 shares of the company’s stock in a transaction dated 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 sale, the chief operating officer now owns 29,002 shares of the company’s stock, valued at approximately $7,541,390.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, COO James Redgie Probst sold 34,000 shares of the business’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 29,002 shares in the company, valued at approximately $7,541,390.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Karl W. Studer sold 23,357 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the transaction, the insider now directly owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 202,357 shares of company stock valued at $53,115,572 in the last three months. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on the company. Wolfe Research started coverage on Quanta Services in a research note on Thursday, September 19th. They set an “outperform” rating and a $313.00 price target on the stock. Northland Securities restated an “outperform” rating and set a $328.00 price objective (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Stifel Nicolaus boosted their target price on shares of Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. B. Riley increased their price target on Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, UBS Group raised their target price on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $314.27.

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.