Strategy Asset Managers LLC Reduces Holdings in Quanta Services, Inc. (NYSE:PWR)

Strategy Asset Managers LLC cut its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 49.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 3,363 shares of the construction company’s stock after selling 3,304 shares during the quarter. Strategy Asset Managers LLC’s holdings in Quanta Services were worth $1,003,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PWR. Electron Capital Partners LLC boosted its holdings in Quanta Services by 395.1% during the 2nd quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after acquiring an additional 2,092,519 shares during the period. Swedbank AB purchased a new stake in Quanta Services in the 1st quarter worth approximately $227,218,000. Capital World Investors lifted its holdings in Quanta Services by 10.7% in the 1st quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock worth $1,726,042,000 after buying an additional 643,011 shares during the period. American Century Companies Inc. lifted its holdings in Quanta Services by 1,445.3% in the 2nd quarter. American Century Companies Inc. now owns 395,152 shares of the construction company’s stock worth $100,404,000 after buying an additional 369,581 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Quanta Services by 17.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock worth $313,968,000 after buying an additional 186,306 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PWR shares. UBS Group increased their price objective on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Citigroup increased their price objective on Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Wolfe Research started coverage on Quanta Services in a report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price objective for the company. Truist Financial increased their price objective on Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, B. Riley raised their target price on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

Quanta Services Stock Up 0.7 %

PWR stock opened at $330.71 on Wednesday. Quanta Services, Inc. has a twelve month low of $180.97 and a twelve month high of $335.00. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The firm has a market cap of $48.82 billion, a PE ratio of 61.02 and a beta of 1.01. The business has a 50 day moving average of $304.98 and a 200 day moving average of $278.87.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.08 EPS. On average, research analysts forecast that Quanta Services, Inc. will post 7.88 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 annualized dividend and a yield of 0.11%. Quanta Services’s dividend payout ratio (DPR) is presently 6.64%.

Quanta Services Company Profile

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. 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.