Quanta Services Inc (PWR) Shares Sold by Texas Permanent School Fund

Texas Permanent School Fund reduced its stake in shares of Quanta Services Inc (NYSE:PWR) by 8.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,406 shares of the construction company’s stock after selling 3,103 shares during the period. Texas Permanent School Fund’s holdings in Quanta Services were worth $1,115,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Alpine Woods Capital Investors LLC grew its holdings in shares of Quanta Services by 15.0% during the 2nd quarter. Alpine Woods Capital Investors LLC now owns 11,500 shares of the construction company’s stock valued at $684,000 after acquiring an additional 1,500 shares in the last quarter. Peddock Capital Advisors LLC grew its holdings in shares of Quanta Services by 7.8% during the 2nd quarter. Peddock Capital Advisors LLC now owns 21,388 shares of the construction company’s stock valued at $714,000 after acquiring an additional 1,542 shares in the last quarter. Ramsey Quantitative Systems grew its holdings in shares of Quanta Services by 20.2% during the 2nd quarter. Ramsey Quantitative Systems now owns 10,375 shares of the construction company’s stock valued at $347,000 after acquiring an additional 1,741 shares in the last quarter. Greenwood Capital Associates LLC boosted its holdings in Quanta Services by 21.5% in the second quarter. Greenwood Capital Associates LLC now owns 10,739 shares of the construction company’s stock worth $359,000 after purchasing an additional 1,900 shares in the last quarter. Finally, Alpha Windward LLC boosted its holdings in Quanta Services by 12.9% in the third quarter. Alpha Windward LLC now owns 16,779 shares of the construction company’s stock worth $560,000 after purchasing an additional 1,920 shares in the last quarter. Institutional investors and hedge funds own 85.42% of the company’s stock.

Shares of NYSE:PWR opened at $34.84 on Friday. The firm has a market capitalization of $5.29 billion, a P/E ratio of 17.26, a price-to-earnings-growth ratio of 1.76 and a beta of 0.84. Quanta Services Inc has a 1 year low of $30.25 and a 1 year high of $40.10. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.86 and a quick ratio of 1.81.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, November 1st. The construction company reported $0.88 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.97 by ($0.09). Quanta Services had a net margin of 3.32% and a return on equity of 8.57%. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter last year, the company earned $0.63 earnings per share. The firm’s revenue was up 14.4% on a year-over-year basis. As a group, equities analysts anticipate that Quanta Services Inc will post 2.52 EPS for the current year.

Quanta Services announced that its board has initiated a share buyback plan on Tuesday, September 4th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the construction company to purchase up to 9.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

A number of brokerages recently issued reports on PWR. Zacks Investment Research upgraded shares of Quanta Services from a “sell” rating to a “hold” rating in a report on Friday, August 31st. B. Riley upped their price objective on shares of Quanta Services from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Monday, August 6th. ValuEngine cut shares of Quanta Services from a “hold” rating to a “sell” rating in a report on Wednesday, August 8th. Citigroup decreased their price objective on shares of Quanta Services from $53.00 to $50.00 and set a “buy” rating for the company in a report on Friday, November 2nd. Finally, Robert W. Baird decreased their price objective on shares of Quanta Services from $41.00 to $39.00 and set a “neutral” rating for the company in a report on Friday, November 2nd. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $44.80.

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Quanta Services Company Profile

Quanta Services, Inc provides specialty contracting services to the electric power, communication, and oil and gas industries in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment provides network solutions, including the design, installation, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure, and substation facilities, as well as other engineering and technical services.

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Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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