Thrivent Financial for Lutherans Has $99.98 Million Stock Position in Quanta Services, Inc. $PWR

Thrivent Financial for Lutherans reduced its stake in Quanta Services, Inc. (NYSE:PWR) by 32.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 241,298 shares of the construction company’s stock after selling 115,133 shares during the quarter. Thrivent Financial for Lutherans owned about 0.16% of Quanta Services worth $99,975,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC bought a new position in shares of Quanta Services during the fourth quarter worth approximately $298,000. Woodline Partners LP increased its position in Quanta Services by 40.7% during the 1st quarter. Woodline Partners LP now owns 12,471 shares of the construction company’s stock worth $3,170,000 after buying an additional 3,606 shares during the period. Capital Investment Advisors LLC acquired a new stake in shares of Quanta Services during the second quarter worth $217,000. SOA Wealth Advisors LLC. boosted its position in shares of Quanta Services by 159.3% in the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after acquiring an additional 43 shares during the period. Finally, ASR Vermogensbeheer N.V. grew its stake in shares of Quanta Services by 214.5% in the second quarter. ASR Vermogensbeheer N.V. now owns 13,092 shares of the construction company’s stock valued at $4,949,000 after acquiring an additional 8,929 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

Shares of PWR stock opened at $474.80 on Friday. The business has a fifty day simple moving average of $448.17 and a 200 day simple moving average of $422.55. The company has a market cap of $70.80 billion, a P/E ratio of 70.34, a P/E/G ratio of 2.34 and a beta of 1.16. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.66. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $489.05.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, October 30th. The construction company reported $3.33 EPS for the quarter, topping 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 firm had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter in the previous year, the firm earned $2.72 earnings per share. The business’s quarterly revenue was up 17.5% on a year-over-year basis. On average, sell-side analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Analyst Ratings Changes

PWR has been the topic of a number of analyst reports. Mizuho set a $415.00 target price on shares of Quanta Services in a research report on Tuesday, October 28th. Evercore ISI increased their price target on Quanta Services from $410.00 to $480.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Jefferies Financial Group dropped their price objective on Quanta Services from $517.00 to $506.00 and set a “buy” rating for the company in a report on Tuesday, January 13th. Cantor Fitzgerald assumed coverage on Quanta Services in a research report on Friday, January 23rd. They set an “overweight” rating and a $520.00 target price for the company. Finally, Roth Mkm set a $500.00 price target on Quanta Services and gave the stock a “buy” rating in a research report on Friday, October 31st. Thirteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $462.00.

Insider Buying and Selling at Quanta Services

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

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.