Employees Retirement System of Texas lowered its position in Quanta Services Inc (NYSE:PWR) by 57.1% during the 4th quarter, HoldingsChannel reports. The fund owned 6,000 shares of the construction company’s stock after selling 8,000 shares during the period. Employees Retirement System of Texas’ holdings in Quanta Services were worth $181,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Quanta Services by 0.9% in the third quarter. Vanguard Group Inc. now owns 15,472,260 shares of the construction company’s stock worth $516,464,000 after purchasing an additional 139,596 shares during the last quarter. Vanguard Group Inc raised its stake in shares of Quanta Services by 0.9% in the third quarter. Vanguard Group Inc now owns 15,472,260 shares of the construction company’s stock worth $516,464,000 after purchasing an additional 139,596 shares during the last quarter. BlackRock Inc. raised its stake in shares of Quanta Services by 2.4% in the fourth quarter. BlackRock Inc. now owns 8,971,475 shares of the construction company’s stock worth $270,042,000 after purchasing an additional 207,321 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Quanta Services by 6.4% in the fourth quarter. Victory Capital Management Inc. now owns 6,612,780 shares of the construction company’s stock worth $199,045,000 after purchasing an additional 396,564 shares during the last quarter. Finally, Greenhaven Associates Inc. raised its stake in shares of Quanta Services by 5.9% in the fourth quarter. Greenhaven Associates Inc. now owns 2,730,550 shares of the construction company’s stock worth $82,190,000 after purchasing an additional 152,250 shares during the last quarter. 84.22% of the stock is owned by hedge funds and other institutional investors.

Shares of PWR opened at $36.91 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.84 and a quick ratio of 1.78. The company has a market cap of $5.19 billion, a P/E ratio of 14.59, a price-to-earnings-growth ratio of 1.40 and a beta of 1.04. Quanta Services Inc has a 12 month low of $27.90 and a 12 month high of $37.44.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 21st. The construction company reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.06. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.94 billion. Quanta Services had a return on equity of 10.63% and a net margin of 2.63%. Quanta Services’s revenue was up 25.6% on a year-over-year basis. During the same period last year, the business posted $0.45 earnings per share. On average, equities research analysts predict that Quanta Services Inc will post 3.24 EPS for the current year.

In other Quanta Services news, CFO Derrick A. Jensen purchased 8,560 shares of the firm’s stock in a transaction that occurred on Wednesday, December 19th. The stock was bought at an average cost of $29.11 per share, with a total value of $249,181.60. Following the completion of the transaction, the chief financial officer now owns 250,603 shares of the company’s stock, valued at approximately $7,295,053.33. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Donald Wayne sold 1,295 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $36.09, for a total value of $46,736.55. Following the sale, the executive vice president now directly owns 30,054 shares of the company’s stock, valued at $1,084,648.86. The disclosure for this sale can be found here. Insiders have purchased 52,060 shares of company stock valued at $1,538,702 over the last ninety days. 0.74% of the stock is currently owned by company insiders.

PWR has been the subject of several analyst reports. ValuEngine downgraded Quanta Services from a “hold” rating to a “sell” rating in a research note on Wednesday, January 2nd. B. Riley reaffirmed a “buy” rating and set a $47.00 price target (down from $56.00) on shares of Quanta Services in a research report on Monday. Citigroup set a $46.00 price target on Quanta Services and gave the company a “buy” rating in a research report on Friday, February 22nd. Finally, Zacks Investment Research downgraded Quanta Services from a “hold” rating to a “sell” rating in a research report on Thursday, January 3rd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $42.60.

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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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