West Oak Capital LLC Sells 193 Shares of Quanta Services, Inc. (NYSE:PWR)

West Oak Capital LLC reduced its holdings in Quanta Services, Inc. (NYSE:PWR) by 64.3% in the fourth quarter, HoldingsChannel reports. The firm owned 107 shares of the construction company’s stock after selling 193 shares during the period. West Oak Capital LLC’s holdings in Quanta Services were worth $34,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Electron Capital Partners LLC increased its holdings in shares of Quanta Services by 395.1% during the second 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 in the last quarter. American Century Companies Inc. boosted its position in shares of Quanta Services by 1,445.3% during the second quarter. American Century Companies Inc. now owns 395,152 shares of the construction company’s stock valued at $100,404,000 after buying an additional 369,581 shares during the last quarter. Alkeon Capital Management LLC boosted its position in shares of Quanta Services by 62.5% during the third quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock valued at $193,798,000 after buying an additional 250,000 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Quanta Services by 17.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock valued at $313,968,000 after buying an additional 186,306 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its position in shares of Quanta Services by 4,701.7% during the second quarter. Public Sector Pension Investment Board now owns 153,559 shares of the construction company’s stock valued at $39,018,000 after buying an additional 150,361 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Price Performance

Shares of NYSE PWR opened at $314.03 on Friday. The firm has a market capitalization of $46.35 billion, a P/E ratio of 57.94 and a beta of 1.06. 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 stock’s 50-day simple moving average is $328.05 and its two-hundred day simple moving average is $293.59. Quanta Services, Inc. has a twelve month low of $187.27 and a twelve month high of $350.19.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same period in the prior year, the company earned $2.08 EPS. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. As a group, equities analysts anticipate that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be issued a $0.10 dividend. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date of this dividend is Thursday, January 2nd. Quanta Services’s dividend payout ratio is presently 7.38%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. began coverage on Quanta Services in a research report on Monday, October 7th. They set a “neutral” rating and a $297.00 target price on the stock. Robert W. Baird boosted their price objective on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Daiwa America raised Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. UBS Group boosted their price objective on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Truist Financial boosted their price objective on Quanta Services from $358.00 to $399.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and a consensus target price of $324.25.

About Quanta Services

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.