American Trust Cuts Holdings in Quanta Services, Inc. (NYSE:PWR)

American Trust reduced its position in Quanta Services, Inc. (NYSE:PWR – Get Rating) by 12.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,652 shares of the construction company’s stock after selling 525 shares during the quarter. American Trust’s holdings in Quanta Services were worth $465,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in PWR. Ronald Blue Trust Inc. purchased a new position in shares of Quanta Services in the 2nd quarter worth $28,000. Alta Advisers Ltd purchased a new position in Quanta Services in the third quarter valued at about $51,000. Money Concepts Capital Corp raised its position in Quanta Services by 112.4% in the third quarter. Money Concepts Capital Corp now owns 478 shares of the construction company’s stock valued at $61,000 after purchasing an additional 253 shares during the period. Hanson & Doremus Investment Management purchased a new position in Quanta Services in the third quarter valued at about $63,000. Finally, Lagoda Investment Management L.P. purchased a new position in Quanta Services in the third quarter valued at about $68,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PWR has been the topic of several research reports. StockNews.com initiated coverage on Quanta Services in a research report on Thursday. They issued a “hold” rating on the stock. Cowen raised their price objective on Quanta Services from $155.00 to $165.00 in a research report on Tuesday, December 27th. Argus raised their price objective on Quanta Services from $168.00 to $189.00 and gave the company a “buy” rating in a research report on Friday, February 24th. UBS Group lifted their target price on Quanta Services to $170.00 in a research report on Monday, November 21st. Finally, DA Davidson lifted their target price on Quanta Services from $140.00 to $160.00 in a research report on Friday, February 24th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $166.25.

Insider Buying and Selling

In related news, EVP Donald Wayne sold 23,214 shares of Quanta Services stock in a transaction dated 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 directly owns 50,367 shares in the company, valued at $8,244,070.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.

Quanta Services Stock Up 1.2 %

NYSE:PWR opened at $157.21 on Friday. The company has a market capitalization of $22.64 billion, a price-to-earnings ratio of 47.35 and a beta of 1.08. Quanta Services, Inc. has a one year low of $106.33 and a one year high of $168.75. The stock has a 50-day simple moving average of $152.89 and a 200 day simple moving average of $145.04. 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 Company 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.