Bornite Capital Management LP reduced its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 26.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 56,600 shares of the construction company's stock after selling 19,900 shares during the quarter. Quanta Services comprises about 2.4% of Bornite Capital Management LP's portfolio, making the stock its 17th biggest position. Bornite Capital Management LP's holdings in Quanta Services were worth $17,888,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Quanta Services in the fourth quarter valued at about $544,937,000. Raymond James Financial Inc. purchased a new stake in shares of Quanta Services during the 4th quarter valued at $203,068,000. Proficio Capital Partners LLC bought a new stake in shares of Quanta Services during the 4th quarter worth $53,949,000. Vanguard Group Inc. grew its position in Quanta Services by 1.0% during 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. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Quanta Services during the 4th quarter worth approximately $46,364,000. 90.49% of the stock is owned by institutional investors.
Quanta Services Price Performance
Shares of Quanta Services stock traded down $1.70 on Wednesday, hitting $243.35. The company's stock had a trading volume of 419,908 shares, compared to its average volume of 1,693,440. The company has a market capitalization of $36.06 billion, a price-to-earnings ratio of 40.36, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. The firm has a fifty day moving average price of $270.15 and a 200-day moving average price of $303.38. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $365.88.
Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, topping analysts' consensus estimates of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The company had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.
Quanta Services Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. The ex-dividend date is Thursday, April 3rd. Quanta Services's payout ratio is currently 6.63%.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on PWR shares. Roth Capital upgraded shares of Quanta Services to a "strong-buy" rating in a research report on Thursday, February 20th. Citigroup dropped their price objective on Quanta Services from $394.00 to $371.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. B. Riley reaffirmed a "neutral" rating and set a $300.00 target price (down previously from $343.00) on shares of Quanta Services in a report on Wednesday, March 19th. Roth Mkm initiated coverage on shares of Quanta Services in a research report on Friday, February 21st. They issued a "buy" rating and a $350.00 price objective for the company. Finally, Stifel Nicolaus decreased their target price on shares of Quanta Services from $323.00 to $287.00 and set a "buy" rating on the stock in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Quanta Services currently has an average rating of "Moderate Buy" and an average price target of $319.25.
View Our Latest Stock Report on PWR
Quanta Services Company Profile
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Free Report)
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.
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