Advisory Alpha LLC Decreases Holdings in Quanta Services, Inc. $PWR

Advisory Alpha LLC trimmed its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 11.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,080 shares of the construction company’s stock after selling 141 shares during the period. Advisory Alpha LLC’s holdings in Quanta Services were worth $408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the company. Teacher Retirement System of Texas lifted its holdings in shares of Quanta Services by 4.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 22,501 shares of the construction company’s stock valued at $8,507,000 after purchasing an additional 924 shares during the last quarter. GoalVest Advisory LLC lifted its holdings in shares of Quanta Services by 1,560.0% in the 2nd quarter. GoalVest Advisory LLC now owns 415 shares of the construction company’s stock valued at $157,000 after purchasing an additional 390 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its holdings in shares of Quanta Services by 1.2% in the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 2,250 shares of the construction company’s stock valued at $851,000 after purchasing an additional 26 shares during the last quarter. Solstein Capital LLC lifted its holdings in shares of Quanta Services by 185.7% in the 2nd quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock valued at $30,000 after purchasing an additional 52 shares during the last quarter. Finally, Delta Investment Management LLC purchased a new stake in shares of Quanta Services in the 2nd quarter valued at about $201,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Performance

NYSE PWR opened at $449.28 on Thursday. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $405.20 and its two-hundred day moving average is $372.57. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $459.36. The stock has a market capitalization of $66.95 billion, a price-to-earnings ratio of 69.55, a PEG ratio of 2.60 and a beta of 1.04.

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

Quanta Services Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PWR. Evercore ISI boosted their target price on Quanta Services from $360.00 to $410.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Roth Capital reissued a “buy” rating and issued a $450.00 target price (up from $350.00) on shares of Quanta Services in a report on Tuesday, July 29th. Weiss Ratings restated a “buy (b-)” rating on shares of Quanta Services in a research report on Wednesday, October 8th. TD Cowen boosted their price target on Quanta Services from $355.00 to $425.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. Finally, Daiwa America cut Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 1st. Fourteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $414.09.

Quanta Services Company 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.