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

Thrivent Financial for Lutherans lowered its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 32.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 241,298 shares of the construction company’s stock after selling 115,133 shares during the period. Thrivent Financial for Lutherans’ holdings in Quanta Services were worth $99,975,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Activest Wealth Management grew its holdings in Quanta Services by 94.1% in the third quarter. Activest Wealth Management now owns 66 shares of the construction company’s stock worth $27,000 after purchasing an additional 32 shares during the period. Copia Wealth Management grew its stake in Quanta Services by 509.1% in the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after acquiring an additional 56 shares during the period. Darwin Wealth Management LLC bought a new position in shares of Quanta Services in the 2nd quarter worth $26,000. SOA Wealth Advisors LLC. raised its holdings in Quanta Services by 159.3% during the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock worth $26,000 after buying an additional 43 shares during the last quarter. Finally, Solstein Capital LLC increased its position in shares of Quanta Services by 185.7% during the second quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock worth $30,000 after acquiring an additional 52 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Jefferies Financial Group cut their target price on Quanta Services from $517.00 to $506.00 and set a “buy” rating on the stock in a research report on Tuesday, January 13th. Roth Mkm set a $500.00 price target on Quanta Services and gave the stock a “buy” rating in a report on Friday, October 31st. Stifel Nicolaus lifted their target price on Quanta Services from $495.00 to $517.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Robert W. Baird set a $490.00 target price on shares of Quanta Services in a research report on Friday, October 31st. Finally, Citigroup raised their target price on Quanta Services from $526.00 to $540.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $462.00.

Insiders Place Their Bets

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the firm’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $446.08, for a total transaction of $3,413,850.24. Following the sale, the insider owned 19,960 shares in the company, valued at $8,903,756.80. This trade represents a 27.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Donald Wayne sold 14,000 shares of the stock in a transaction dated 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 transaction, the executive vice president owned 34,575 shares in the company, valued at $15,344,730.75. This trade represents a 28.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 32,002 shares of company stock worth $14,295,857 over the last three months. Company insiders own 1.10% of the company’s stock.

Quanta Services Stock Performance

NYSE PWR opened at $474.80 on Friday. The company’s 50 day simple moving average is $448.17 and its two-hundred day simple moving average is $422.55. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.34 and a quick ratio of 1.30. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $489.05. The stock has a market capitalization of $70.80 billion, a PE ratio of 70.34, a P/E/G ratio of 2.34 and a beta of 1.16.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share for the quarter, topping the consensus estimate of $3.24 by $0.09. Quanta Services had a net margin of 3.74% and a return on equity of 18.74%. The firm had revenue of $7.63 billion for the quarter, compared to analysts’ expectations of $7.41 billion. During the same quarter in the prior year, the firm posted $2.72 earnings per share. The business’s quarterly revenue was up 17.5% on a year-over-year basis. Analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Company 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.