Artisan Partners Limited Partnership Decreases Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Artisan Partners Limited Partnership trimmed its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 4.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,161,266 shares of the construction company's stock after selling 95,653 shares during the quarter. Quanta Services comprises 1.0% of Artisan Partners Limited Partnership's holdings, making the stock its 26th largest position. Artisan Partners Limited Partnership owned approximately 1.46% of Quanta Services worth $683,068,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Webster Bank N. A. increased its holdings in shares of Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Sierra Ocean LLC acquired a new stake in Quanta Services during the fourth quarter valued at $27,000. Legacy Investment Solutions LLC purchased a new position in Quanta Services in the third quarter valued at $31,000. Prestige Wealth Management Group LLC acquired a new position in shares of Quanta Services in the third quarter worth about $30,000. Finally, Sound Income Strategies LLC grew its position in shares of Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock valued at $33,000 after acquiring an additional 91 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Performance

Quanta Services stock traded down $0.71 during midday trading on Friday, hitting $254.17. 1,150,073 shares of the company's stock were exchanged, compared to its average volume of 1,724,061. The firm's 50 day simple moving average is $283.07 and its 200 day simple moving average is $304.75. Quanta Services, Inc. has a 12-month low of $227.11 and a 12-month high of $365.88. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The stock has a market cap of $37.67 billion, a price-to-earnings ratio of 42.15, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10.

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Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 EPS 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 firm had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. Equities research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The company 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 $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend is Thursday, April 3rd. Quanta Services's payout ratio is 6.63%.

Analyst Ratings Changes

Several analysts have commented on PWR shares. JPMorgan Chase & Co. raised their price objective on Quanta Services from $297.00 to $323.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Daiwa Capital Markets cut shares of Quanta Services from an "outperform" rating to a "neutral" rating in a research report on Monday, February 24th. B. Riley reiterated a "neutral" rating and issued a $300.00 target price (down previously from $343.00) on shares of Quanta Services in a research report on Wednesday, March 19th. Citigroup reduced their price target on shares of Quanta Services from $394.00 to $371.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Finally, Daiwa America cut Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Monday, February 24th. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Quanta Services presently has an average rating of "Moderate Buy" and a consensus target price of $326.79.

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.