Securian Asset Management Inc. grew its holdings in Quanta Services, Inc. (NYSE:PWR – Free Report) by 1.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,104 shares of the construction company’s stock after purchasing an additional 120 shares during the period. Securian Asset Management Inc.’s holdings in Quanta Services were worth $2,017,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in PWR. Panagora Asset Management Inc. grew its holdings in shares of Quanta Services by 79.1% in the 1st quarter. Panagora Asset Management Inc. now owns 11,464 shares of the construction company’s stock valued at $1,509,000 after acquiring an additional 5,063 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Quanta Services by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,067 shares of the construction company’s stock worth $2,509,000 after purchasing an additional 1,181 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Quanta Services by 2.6% during the 1st quarter. Great West Life Assurance Co. Can now owns 26,648 shares of the construction company’s stock worth $3,655,000 after purchasing an additional 668 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in shares of Quanta Services by 8.3% in the 1st quarter. Raymond James Trust N.A. now owns 4,949 shares of the construction company’s stock valued at $652,000 after buying an additional 379 shares during the last quarter. Finally, Blair William & Co. IL grew its stake in shares of Quanta Services by 21.7% in the first quarter. Blair William & Co. IL now owns 16,156 shares of the construction company’s stock valued at $2,126,000 after buying an additional 2,884 shares in the last quarter. Institutional investors and hedge funds own 88.80% of the company’s stock.
Analyst Upgrades and Downgrades
PWR has been the subject of a number of recent analyst reports. DA Davidson increased their price target on shares of Quanta Services from $160.00 to $170.00 in a research note on Tuesday, May 9th. KeyCorp upped their price objective on Quanta Services from $174.00 to $190.00 in a research note on Monday, April 24th. StockNews.com began coverage on Quanta Services in a research note on Thursday, May 18th. They set a “hold” rating for the company. Robert W. Baird increased their price target on Quanta Services from $173.00 to $186.00 in a research note on Friday, May 5th. Finally, The Goldman Sachs Group lifted their price objective on shares of Quanta Services from $150.00 to $171.00 and gave the stock a “neutral” rating in a research report on Monday, April 17th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $183.18.
Quanta Services Trading Down 1.1 %
Quanta Services (NYSE:PWR – Get Free Report) last announced its earnings results on Thursday, May 4th. The construction company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.94 by $0.15. The company had revenue of $4.43 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Quanta Services had a net margin of 2.86% and a return on equity of 15.72%. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 6.42 earnings per share for the current year.
Quanta Services Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, July 3rd were given a dividend of $0.08 per share. The ex-dividend date was Friday, June 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.16%. Quanta Services’s payout ratio is 9.44%.
Insider Buying and Selling
In related news, EVP Derrick A. Jensen sold 100,000 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $169.36, for a total transaction of $16,936,000.00. Following the completion of the sale, the executive vice president now owns 282,225 shares of the company’s stock, valued at $47,797,626. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Derrick A. Jensen sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $169.36, for a total transaction of $16,936,000.00. Following the completion of the sale, the executive vice president now owns 282,225 shares of the company’s stock, valued at approximately $47,797,626. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Dorothy Upperman sold 4,074 shares of the stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $183.87, for a total transaction of $749,086.38. Following the sale, the vice president now owns 13,078 shares in the company, valued at approximately $2,404,651.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 247,074 shares of company stock worth $42,242,506. Company insiders own 1.20% of the company’s stock.
Quanta Services Profile
Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries worldwide. 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.
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