Bessemer Group Inc. Sells 183,943 Shares of Quanta Services, Inc. (NYSE:PWR)

Bessemer Group Inc. lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 23.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 593,664 shares of the construction company's stock after selling 183,943 shares during the period. Bessemer Group Inc. owned approximately 0.40% of Quanta Services worth $187,628,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PWR. Vanguard Group Inc. boosted its holdings in shares of Quanta Services by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company's stock valued at $5,375,828,000 after buying an additional 161,277 shares during the period. Geode Capital Management LLC raised its stake in shares of Quanta Services by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company's stock valued at $1,121,830,000 after purchasing an additional 99,416 shares during the period. Invesco Ltd. lifted its holdings in shares of Quanta Services by 3.7% in the fourth quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company's stock valued at $604,871,000 after purchasing an additional 68,565 shares in the last quarter. Norges Bank acquired a new position in shares of Quanta Services during the fourth quarter worth about $544,937,000. Finally, Bank of New York Mellon Corp raised its position in Quanta Services by 4.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,024,510 shares of the construction company's stock valued at $323,797,000 after buying an additional 45,486 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PWR shares. Daiwa America downgraded shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 24th. JPMorgan Chase & Co. lifted their target price on Quanta Services from $297.00 to $323.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Guggenheim started coverage on Quanta Services in a research report on Wednesday, January 8th. They set a "neutral" rating for the company. BMO Capital Markets raised Quanta Services from a "market perform" rating to an "outperform" rating and lowered their price target for the stock from $338.00 to $316.00 in a research report on Tuesday, February 25th. Finally, Roth Mkm began coverage on Quanta Services in a report on Friday, February 21st. They issued a "buy" rating and a $350.00 price objective for the company. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $319.25.

Quanta Services Stock Up 1.3 %

Shares of PWR stock traded up $3.38 during trading hours on Monday, reaching $272.95. The company had a trading volume of 439,833 shares, compared to its average volume of 1,687,043. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $365.88. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The company has a market cap of $40.45 billion, a price-to-earnings ratio of 45.27, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. The business has a fifty day simple moving average of $267.21 and a 200-day simple moving average of $302.57.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $6.61 billion. On average, research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend was 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.