National Pension Service Buys 3,701 Shares of Quanta Services, Inc. $PWR

National Pension Service grew its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 0.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 418,930 shares of the construction company’s stock after buying an additional 3,701 shares during the quarter. National Pension Service owned 0.28% of Quanta Services worth $173,613,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Freedom Day Solutions LLC bought a new position in Quanta Services in the second quarter worth approximately $2,465,000. Mediolanum International Funds Ltd increased its holdings in shares of Quanta Services by 15.5% in the 2nd quarter. Mediolanum International Funds Ltd now owns 33,158 shares of the construction company’s stock valued at $12,642,000 after acquiring an additional 4,451 shares during the period. Calamos Advisors LLC raised its position in shares of Quanta Services by 17.1% in the 3rd quarter. Calamos Advisors LLC now owns 105,401 shares of the construction company’s stock worth $43,680,000 after acquiring an additional 15,388 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in Quanta Services by 59.9% in the third quarter. Exchange Traded Concepts LLC now owns 44,392 shares of the construction company’s stock valued at $18,397,000 after purchasing an additional 16,637 shares during the last quarter. Finally, Chilton Capital Management LLC raised its holdings in Quanta Services by 63.3% in the third quarter. Chilton Capital Management LLC now owns 166,536 shares of the construction company’s stock worth $69,016,000 after purchasing an additional 64,560 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

Insider Transactions at Quanta Services

In related news, Director Worthing Jackman sold 6,349 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $450.45, for a total value of $2,859,907.05. Following the transaction, the director owned 2,730 shares in the company, valued at approximately $1,229,728.50. This represents a 69.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bernard Fried sold 4,000 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $452.19, for a total transaction of $1,808,760.00. Following the completion of the sale, the director directly owned 12,493 shares in the company, valued at $5,649,209.67. This trade represents a 24.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 32,002 shares of company stock worth $14,295,857 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Price Performance

NYSE PWR opened at $474.80 on Friday. The company has a market cap of $70.80 billion, a price-to-earnings ratio of 70.34, a PEG ratio of 2.34 and a beta of 1.16. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.34 and a quick ratio of 1.30. The stock’s fifty day moving average price is $448.17 and its 200 day moving average price is $422.55. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $489.05.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share for the quarter, beating the consensus estimate of $3.24 by $0.09. Quanta Services had a return on equity of 18.74% and a net margin of 3.74%.The business had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter in the previous year, the business earned $2.72 EPS. The company’s quarterly revenue was up 17.5% compared to the same quarter last year. As a group, equities research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Argus set a $540.00 price target on shares of Quanta Services in a report on Friday, October 31st. Mizuho set a $415.00 target price on shares of Quanta Services in a research report on Tuesday, October 28th. Sanford C. Bernstein cut their price target on shares of Quanta Services from $432.00 to $428.00 and set a “market perform” rating on the stock in a report on Friday, December 19th. The Goldman Sachs Group set a $495.00 price objective on Quanta Services in a report on Monday, November 24th. Finally, Cantor Fitzgerald started coverage on Quanta Services in a research report on Friday, January 23rd. They issued an “overweight” rating and a $520.00 price objective for the company. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and an average target price of $462.00.

About Quanta Services

Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.

In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.