California State Teachers Retirement System Reduces Stock Position in Quanta Services, Inc. (NYSE:PWR)

California State Teachers Retirement System trimmed its holdings in shares of Quanta Services, Inc. (NYSE:PWR – Get Rating) by 1.0% in the third quarter, Holdings Channel reports. The institutional investor owned 239,817 shares of the construction company’s stock after selling 2,523 shares during the period. California State Teachers Retirement System’s holdings in Quanta Services were worth $30,550,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its stake in Quanta Services by 52.9% during the 2nd quarter. Franklin Resources Inc. now owns 900,611 shares of the construction company’s stock worth $112,884,000 after acquiring an additional 311,496 shares in the last quarter. Stephens Inc. AR boosted its position in shares of Quanta Services by 7.0% in the 3rd quarter. Stephens Inc. AR now owns 3,755 shares of the construction company’s stock valued at $478,000 after purchasing an additional 246 shares during the period. Greenleaf Trust boosted its position in shares of Quanta Services by 1.9% in the 3rd quarter. Greenleaf Trust now owns 5,547 shares of the construction company’s stock valued at $707,000 after purchasing an additional 106 shares during the period. Korea Investment CORP acquired a new stake in shares of Quanta Services in the 2nd quarter valued at about $5,766,000. Finally, Advisors Asset Management Inc. boosted its position in shares of Quanta Services by 13.3% in the 3rd quarter. Advisors Asset Management Inc. now owns 63,536 shares of the construction company’s stock valued at $8,094,000 after purchasing an additional 7,458 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PWR. Robert W. Baird upped their target price on Quanta Services from $157.00 to $173.00 and gave the company an “outperform” rating in a research report on Friday, February 24th. StockNews.com began coverage on Quanta Services in a research report on Thursday. They issued a “hold” rating for the company. DA Davidson upped their target price on Quanta Services from $140.00 to $160.00 in a research report on Friday, February 24th. Citigroup upped their price objective on Quanta Services from $161.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, December 9th. Finally, Cowen lifted their target price on Quanta Services from $155.00 to $165.00 in a research note on Tuesday, December 27th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and an average target price of $166.25.

Quanta Services Trading Down 1.3 %

NYSE:PWR opened at $155.10 on Friday. The stock has a fifty day moving average price of $153.21 and a two-hundred day moving average price of $145.14. The stock has a market capitalization of $22.33 billion, a price-to-earnings ratio of 46.72 and a beta of 1.08. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.59 and a current ratio of 1.63. Quanta Services, Inc. has a 1 year low of $106.33 and a 1 year high of $168.75.

Insiders Place Their Bets

In other Quanta Services news, EVP Donald Wayne sold 23,214 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $163.68, for a total value of $3,799,667.52. Following the completion of the transaction, the executive vice president now owns 50,367 shares in the company, valued at $8,244,070.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is currently owned by company insiders.

Quanta Services Profile

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Quanta Services, Inc engages in the provision of comprehensive infrastructure solutions to the electric power, oil and gas, and communication industries. It operates through the following segments: Electric Power Infrastructure Solutions, Renewable Energy Infrastructure Solutions, and Underground Utility and Infrastructure Solutions.