Quanta Services, Inc. $PWR Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 25.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,950 shares of the construction company’s stock after selling 7,200 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Quanta Services were worth $7,921,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Old Port Advisors grew its stake in shares of Quanta Services by 0.7% during the 2nd quarter. Old Port Advisors now owns 3,944 shares of the construction company’s stock worth $1,491,000 after purchasing an additional 26 shares during the period. Ashton Thomas Private Wealth LLC grew its position in Quanta Services by 1.2% during the second quarter. Ashton Thomas Private Wealth LLC now owns 2,250 shares of the construction company’s stock valued at $851,000 after buying an additional 26 shares during the period. Pinnacle Wealth Planning Services Inc. increased its holdings in Quanta Services by 3.5% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company’s stock valued at $242,000 after buying an additional 32 shares in the last quarter. Frank Rimerman Advisors LLC raised its position in shares of Quanta Services by 1.1% in the first quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company’s stock worth $792,000 after acquiring an additional 34 shares during the period. Finally, Eastern Bank boosted its stake in shares of Quanta Services by 23.5% during the 2nd quarter. Eastern Bank now owns 184 shares of the construction company’s stock worth $70,000 after acquiring an additional 35 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Price Performance

Shares of NYSE PWR opened at $449.28 on Thursday. The firm has a 50-day simple moving average of $405.20 and a 200-day simple moving average of $372.57. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $66.95 billion, a price-to-earnings ratio of 69.55, a price-to-earnings-growth ratio of 2.60 and a beta of 1.04. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $459.36.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.04. The firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. Quanta Services’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.90 earnings per share. On average, equities analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st were given a $0.10 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services’s dividend payout ratio is 6.19%.

Analysts Set New Price Targets

Several brokerages recently weighed in on PWR. Daiwa America lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 1st. Roth Capital reaffirmed a “buy” rating and set a $450.00 target price (up from $350.00) on shares of Quanta Services in a research note on Tuesday, July 29th. Mizuho set a $415.00 price target on shares of Quanta Services in a research note on Tuesday. DA Davidson upped their price objective on shares of Quanta Services from $305.00 to $395.00 and gave the stock a “neutral” rating in a research report on Friday, August 1st. Finally, Northland Securities lowered shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $354.00 target price on the stock. in a research report on Wednesday, July 2nd. Fourteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $414.09.

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.