Cannell & Co. trimmed its position in shares of Quanta Services, Inc. (NYSE:PWR – Get Rating) by 3.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 113,810 shares of the construction company’s stock after selling 4,399 shares during the quarter. Cannell & Co. owned 0.08% of Quanta Services worth $14,498,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of PWR. Panagora Asset Management Inc. raised its position in Quanta Services by 79.1% during the first quarter. Panagora Asset Management Inc. now owns 11,464 shares of the construction company’s stock worth $1,509,000 after acquiring an additional 5,063 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Quanta Services by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,067 shares of the construction company’s stock valued at $2,509,000 after acquiring an additional 1,181 shares in the last quarter. Great West Life Assurance Co. Can boosted its holdings in Quanta Services by 2.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 26,648 shares of the construction company’s stock valued at $3,655,000 after purchasing an additional 668 shares during the period. Raymond James Trust N.A. increased its position in Quanta Services by 8.3% in the 1st quarter. Raymond James Trust N.A. now owns 4,949 shares of the construction company’s stock valued at $652,000 after acquiring an additional 379 shares in the last quarter. Finally, Blair William & Co. IL boosted its position in shares of Quanta Services by 21.7% during the first quarter. Blair William & Co. IL now owns 16,156 shares of the construction company’s stock worth $2,126,000 after purchasing an additional 2,884 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.
Quanta Services Stock Performance
NYSE PWR traded up $0.86 during trading hours on Tuesday, hitting $149.36. The company had a trading volume of 9,958 shares, compared to its average volume of 738,794. The business has a 50 day moving average of $145.49 and a 200-day moving average of $139.54. The company has a market cap of $21.34 billion, a PE ratio of 50.68 and a beta of 1.10. Quanta Services, Inc. has a 1-year low of $93.91 and a 1-year high of $155.00. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.57 and a current ratio of 1.60.
Quanta Services (NYSE:PWR – Get Rating) last posted its quarterly earnings data on Thursday, November 3rd. The construction company reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($0.01). Quanta Services had a return on equity of 16.35% and a net margin of 2.61%. The company had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.38 billion. As a group, equities research analysts expect that Quanta Services, Inc. will post 5.77 EPS for the current year.
Quanta Services Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Tuesday, January 3rd were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date of this dividend was Friday, December 30th. This is an increase from Quanta Services’s previous quarterly dividend of $0.07. Quanta Services’s dividend payout ratio (DPR) is currently 10.92%.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on the stock. StockNews.com started coverage on shares of Quanta Services in a report on Wednesday, October 12th. They set a “hold” rating on the stock. UBS Group increased their price target on shares of Quanta Services to $170.00 in a research report on Monday, November 21st. Citigroup increased their price target on shares of Quanta Services from $161.00 to $175.00 and gave the company a “buy” rating in a report on Friday, December 9th. Cowen lifted their price target on shares of Quanta Services from $155.00 to $165.00 and gave the company an “outperform” rating in a report on Tuesday, December 27th. Finally, Cowen raised their price objective on Quanta Services from $155.00 to $165.00 in a report on Tuesday, December 27th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $158.92.
Quanta Services Company Profile
Quanta Services, Inc provides specialty contracting services worldwide. The 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; energized 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.