Handelsinvest Investeringsforvaltning Sells 127 Shares of Quanta Services, Inc. (NYSE:PWR)

by · The Cerbat Gem

Handelsinvest Investeringsforvaltning lessened its position in shares of Quanta Services, Inc. (NYSE:PWR – Free Report) by 1.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,380 shares of the construction company’s stock after selling 127 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Quanta Services were worth $2,316,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PWR. Panagora Asset Management Inc. increased its holdings in Quanta Services by 79.1% during the 1st quarter. Panagora Asset Management Inc. now owns 11,464 shares of the construction company’s stock worth $1,509,000 after purchasing an additional 5,063 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake 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 buying an additional 1,181 shares during the last quarter. Great West Life Assurance Co. Can boosted 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 buying an additional 668 shares during the last quarter. Raymond James Trust N.A. boosted its stake in shares of Quanta Services by 8.3% during the 1st quarter. Raymond James Trust N.A. now owns 4,949 shares of the construction company’s stock worth $652,000 after buying an additional 379 shares during the last quarter. Finally, Blair William & Co. IL boosted its stake in shares of Quanta Services by 21.7% during the 1st quarter. Blair William & Co. IL now owns 16,156 shares of the construction company’s stock worth $2,126,000 after buying an additional 2,884 shares during the last quarter. Institutional investors own 87.86% of the company’s stock.

Quanta Services Stock Performance

NYSE:PWR traded down $0.99 during mid-day trading on Friday, hitting $199.08. The stock had a trading volume of 717,442 shares, compared to its average volume of 969,586. Quanta Services, Inc. has a twelve month low of $136.77 and a twelve month high of $219.17. The stock has a market cap of $28.92 billion, a price-to-earnings ratio of 42.45 and a beta of 1.09. The company’s 50 day simple moving average is $192.57 and its 200 day simple moving average is $193.31. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.57 and a current ratio of 1.61.

Quanta Services (NYSE:PWR – Get Free Report) last issued its quarterly earnings data on Thursday, November 2nd. The construction company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.09. The firm had revenue of $5.62 billion during the quarter, compared to the consensus estimate of $5.26 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.17%. On average, equities research analysts forecast that Quanta Services, Inc. will post 6.44 earnings per share for the current year.

Quanta Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Tuesday, January 2nd will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, December 29th. This is an increase from Quanta Services’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 0.18%. Quanta Services’s dividend payout ratio (DPR) is 7.68%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PWR shares. The Goldman Sachs Group upgraded shares of Quanta Services from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $214.00 to $211.00 in a research note on Wednesday, November 8th. Stifel Nicolaus increased their price objective on shares of Quanta Services from $212.00 to $237.00 and gave the stock a “buy” rating in a research note on Tuesday, December 19th. StockNews.com started coverage on shares of Quanta Services in a research note on Thursday, October 5th. They set a “hold” rating for the company. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $219.00 target price on shares of Quanta Services in a research note on Thursday, September 14th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $220.50.

View Our Latest Stock Analysis on Quanta Services

About Quanta Services

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding PWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quanta Services, Inc. (NYSE:PWR – Free Report).