Quanta Services, Inc. (NYSE:PWR) Shares Sold by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd lowered its position in shares of Quanta Services, Inc. (NYSE:PWR) by 8.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 86,978 shares of the construction company’s stock after selling 7,665 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Quanta Services were worth $27,489,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PWR. Webster Bank N. A. raised its stake in shares of Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after purchasing an additional 81 shares during the last quarter. Sierra Ocean LLC purchased a new position in Quanta Services during the 4th quarter worth approximately $27,000. Prestige Wealth Management Group LLC acquired a new stake in Quanta Services during the 3rd quarter valued at approximately $30,000. Legacy Investment Solutions LLC purchased a new stake in shares of Quanta Services in the 3rd quarter valued at $31,000. Finally, Sound Income Strategies LLC increased its stake in shares of Quanta Services by 700.0% in the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after acquiring an additional 91 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

PWR has been the topic of several recent research reports. BMO Capital Markets raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $338.00 to $316.00 in a report on Tuesday, February 25th. Bank of America began coverage on Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 target price on the stock. Stifel Nicolaus decreased their price target on Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a report on Monday, February 24th. Citigroup dropped their price objective on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, Roth Mkm assumed coverage on shares of Quanta Services in a research note on Friday, February 21st. They issued a “buy” rating and a $350.00 target price for the company. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $326.79.

Quanta Services Trading Down 5.7 %

Shares of Quanta Services stock opened at $260.45 on Thursday. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a twelve month low of $227.11 and a twelve month high of $365.88. The firm has a market capitalization of $38.60 billion, a PE ratio of 43.19, a P/E/G ratio of 1.41 and a beta of 1.10. The firm’s 50-day moving average price is $286.36 and its 200 day moving average price is $304.69.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The business had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. On average, sell-side analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date is Thursday, April 3rd. Quanta Services’s payout ratio is 6.63%.

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.