Quanta Services, Inc. $PWR Position Lessened by Strategy Asset Managers LLC

Strategy Asset Managers LLC lowered its position in Quanta Services, Inc. (NYSE:PWR) by 62.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 908 shares of the construction company’s stock after selling 1,499 shares during the quarter. Strategy Asset Managers LLC’s holdings in Quanta Services were worth $376,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Quanta Services in the second quarter worth approximately $675,802,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in Quanta Services by 57.2% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,425,436 shares of the construction company’s stock worth $917,009,000 after purchasing an additional 882,209 shares in the last quarter. Select Equity Group L.P. increased its position in Quanta Services by 69.3% during the second quarter. Select Equity Group L.P. now owns 1,017,123 shares of the construction company’s stock worth $384,554,000 after buying an additional 416,395 shares during the last quarter. Vanguard Group Inc. raised its holdings in Quanta Services by 1.9% during the second quarter. Vanguard Group Inc. now owns 17,756,682 shares of the construction company’s stock valued at $6,713,446,000 after buying an additional 339,383 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Quanta Services by 150.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 419,098 shares of the construction company’s stock worth $156,026,000 after buying an additional 251,845 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Quanta Services

In other Quanta Services news, Director Worthing Jackman sold 6,349 shares of Quanta Services stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $450.45, for a total transaction of $2,859,907.05. Following the completion of the sale, the director owned 2,730 shares of the company’s stock, valued at approximately $1,229,728.50. The trade was a 69.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Donald Wayne sold 14,000 shares of the stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $443.81, for a total value of $6,213,340.00. Following the completion of the transaction, the executive vice president directly owned 34,575 shares in the company, valued at approximately $15,344,730.75. This trade represents a 28.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 28,002 shares of company stock worth $12,487,097 in the last quarter. 1.10% of the stock is owned by company insiders.

Quanta Services Price Performance

Shares of PWR stock opened at $477.26 on Tuesday. The firm has a market cap of $71.17 billion, a price-to-earnings ratio of 70.71, a PEG ratio of 2.30 and a beta of 1.15. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $489.05. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.66. The stock has a 50-day moving average price of $448.84 and a 200 day moving average price of $423.34.

Analyst Upgrades and Downgrades

Several brokerages have commented on PWR. Mizuho set a $415.00 price target on Quanta Services in a report on Tuesday, October 28th. Sanford C. Bernstein cut their price target on Quanta Services from $432.00 to $428.00 and set a “market perform” rating for the company in a report on Friday, December 19th. Roth Mkm set a $500.00 price objective on shares of Quanta Services and gave the stock a “buy” rating in a report on Friday, October 31st. The Goldman Sachs Group set a $495.00 target price on Quanta Services in a research report on Monday, November 24th. Finally, Cantor Fitzgerald assumed coverage on shares of Quanta Services in a report on Friday, January 23rd. They set an “overweight” rating and a $520.00 price target for the company. Thirteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $462.00.

Quanta Services Profile

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.