Quanta Services, Inc. $PWR Shares Sold by Peregrine Asset Advisers Inc.

Peregrine Asset Advisers Inc. decreased its holdings in Quanta Services, Inc. (NYSE:PWR) by 75.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 8,263 shares of the construction company’s stock after selling 25,686 shares during the quarter. Quanta Services makes up 1.0% of Peregrine Asset Advisers Inc.’s holdings, making the stock its 28th biggest holding. Peregrine Asset Advisers Inc.’s holdings in Quanta Services were worth $3,424,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Copia Wealth Management grew its stake in shares of Quanta Services by 509.1% in the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock worth $25,000 after acquiring an additional 56 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in Quanta Services in the second quarter valued at $26,000. Activest Wealth Management grew its stake in Quanta Services by 94.1% during the 3rd quarter. Activest Wealth Management now owns 66 shares of the construction company’s stock worth $27,000 after purchasing an additional 32 shares in the last quarter. Solstein Capital LLC increased its holdings in Quanta Services by 185.7% during the 2nd quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock worth $30,000 after purchasing an additional 52 shares during the period. Finally, Cornerstone Planning Group LLC raised its position in Quanta Services by 213.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 72 shares of the construction company’s stock valued at $30,000 after purchasing an additional 49 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Up 2.2%

Quanta Services stock opened at $488.50 on Wednesday. The company has a market capitalization of $72.85 billion, a P/E ratio of 72.37, a PEG ratio of 2.31 and a beta of 1.15. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.34. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $490.47. The stock has a 50-day simple moving average of $449.62 and a 200-day simple moving average of $423.94.

Analyst Ratings Changes

PWR has been the subject of a number of analyst reports. Jefferies Financial Group lowered their price objective on Quanta Services from $517.00 to $506.00 and set a “buy” rating for the company in a research report on Tuesday, January 13th. Roth Mkm set a $500.00 price target on shares of Quanta Services and gave the stock a “buy” rating in a report on Friday, October 31st. Argus set a $540.00 price objective on shares of Quanta Services in a report on Friday, October 31st. JPMorgan Chase & Co. upgraded Quanta Services from a “neutral” rating to an “overweight” rating and raised their price target for the company from $457.00 to $515.00 in a research note on Monday, December 8th. Finally, Citigroup lifted their price target on Quanta Services from $526.00 to $540.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $462.00.

Insider Transactions at Quanta Services

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 19,960 shares of the company’s stock, valued at $8,903,756.80. This represents a 27.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Donald Wayne sold 14,000 shares of Quanta Services stock in a transaction that occurred 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 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. 1.10% of the stock is currently owned by corporate insiders.

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.