A. D. Beadell Investment Counsel Inc. Sells 738 Shares of Quanta Services, Inc. (NYSE:PWR)

A. D. Beadell Investment Counsel Inc. lowered its position in shares of Quanta Services, Inc. (NYSE:PWR) by 11.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,788 shares of the construction company’s stock after selling 738 shares during the period. A. D. Beadell Investment Counsel Inc.’s holdings in Quanta Services were worth $1,137,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its stake in shares of Quanta Services by 2,400.0% in the first quarter. Jones Financial Companies Lllp now owns 150 shares of the construction company’s stock worth $25,000 after purchasing an additional 144 shares during the last quarter. ICA Group Wealth Management LLC purchased a new position in Quanta Services in the 4th quarter worth about $26,000. TCTC Holdings LLC bought a new position in Quanta Services during the 1st quarter valued at about $27,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of Quanta Services during the 4th quarter valued at about $28,000. Finally, Venturi Wealth Management LLC purchased a new position in shares of Quanta Services during the first quarter valued at approximately $29,000. 87.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Donald Wayne sold 5,000 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $210.92, for a total transaction of $1,054,600.00. Following the sale, the executive vice president now owns 41,323 shares of the company’s stock, valued at $8,715,847.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Quanta Services Price Performance

PWR traded down $3.26 during trading on Tuesday, reaching $194.44. 374,535 shares of the company traded hands, compared to its average volume of 819,557. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.64 and a current ratio of 1.68. The firm has a fifty day simple moving average of $203.30 and a 200 day simple moving average of $183.49. Quanta Services, Inc. has a 12-month low of $123.25 and a 12-month high of $212.82. The company has a market cap of $28.23 billion, a P/E ratio of 49.78 and a beta of 1.08.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, August 3rd. The construction company reported $1.47 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.06). The company had revenue of $5.05 billion during the quarter, compared to analysts’ expectations of $4.69 billion. Quanta Services had a return on equity of 15.48% and a net margin of 3.16%. On average, equities analysts forecast that Quanta Services, Inc. will post 6.47 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Monday, October 2nd will be given a dividend of $0.08 per share. The ex-dividend date is Friday, September 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.16%. Quanta Services’s dividend payout ratio is currently 8.16%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PWR shares. DA Davidson boosted their target price on shares of Quanta Services from $170.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, August 7th. Credit Suisse Group upped their price objective on Quanta Services from $201.00 to $238.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. Robert W. Baird reiterated an “outperform” rating and issued a $219.00 price objective on shares of Quanta Services in a research note on Thursday, September 14th. Northland Securities upped their target price on shares of Quanta Services from $190.00 to $210.00 in a report on Friday, August 4th. Finally, Argus increased their price target on shares of Quanta Services from $234.00 to $248.00 and gave the stock a “buy” rating in a research report on Wednesday, September 6th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $205.27.

About Quanta Services

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries worldwide. The company's Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.