Quanta Services, Inc. (NYSE:PWR) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lowered its position in Quanta Services, Inc. (NYSE:PWR) by 35.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,863 shares of the construction company’s stock after selling 4,267 shares during the quarter. Pacer Advisors Inc.’s holdings in Quanta Services were worth $1,999,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Brighton Jones LLC acquired a new stake in Quanta Services in the 4th quarter valued at approximately $298,000. Teacher Retirement System of Texas grew its stake in shares of Quanta Services by 40.7% in the fourth quarter. Teacher Retirement System of Texas now owns 1,379 shares of the construction company’s stock worth $436,000 after purchasing an additional 399 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of Quanta Services by 3.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 8,045 shares of the construction company’s stock valued at $2,512,000 after purchasing an additional 260 shares during the period. O Shaughnessy Asset Management LLC raised its stake in shares of Quanta Services by 8.0% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 30,325 shares of the construction company’s stock valued at $9,584,000 after purchasing an additional 2,238 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Quanta Services by 33.8% in the fourth quarter. Alliancebernstein L.P. now owns 244,869 shares of the construction company’s stock worth $77,391,000 after purchasing an additional 61,889 shares during the period. Institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PWR shares. Argus set a $375.00 target price on shares of Quanta Services in a research note on Monday, May 5th. Daiwa America upgraded shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 11th. Wall Street Zen upgraded Quanta Services from a “hold” rating to a “buy” rating in a research report on Friday, June 27th. BMO Capital Markets cut Quanta Services from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $352.00 to $400.00 in a research report on Thursday, July 17th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $414.00 price objective (up previously from $364.00) on shares of Quanta Services in a research note on Wednesday, June 4th. Eleven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $375.23.

Quanta Services Stock Down 0.0%

Shares of NYSE:PWR opened at $411.80 on Wednesday. The firm has a 50 day simple moving average of $369.96 and a 200 day simple moving average of $316.54. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $424.94. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.26 and a current ratio of 1.31. The company has a market cap of $61.06 billion, a PE ratio of 66.42, a price-to-earnings-growth ratio of 2.83 and a beta of 1.08.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The company had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.88 billion. Quanta Services had a return on equity of 18.06% and a net margin of 3.74%. The company’s revenue for the quarter was up 23.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.41 earnings per share. As a group, research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.10%. Quanta Services’s payout ratio is presently 6.45%.

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.