FIL Ltd reduced its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 17.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 635,683 shares of the construction company's stock after selling 131,465 shares during the period. FIL Ltd owned approximately 0.43% of Quanta Services worth $200,908,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PWR. Webster Bank N. A. boosted its holdings in shares of Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. Sierra Ocean LLC purchased a new stake in shares of Quanta Services during the fourth quarter worth about $27,000. Prestige Wealth Management Group LLC purchased a new stake in Quanta Services during the 3rd quarter worth approximately $30,000. Sound Income Strategies LLC raised its stake in Quanta Services by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock valued at $33,000 after purchasing an additional 91 shares during the last quarter. Finally, Centricity Wealth Management LLC purchased a new position in shares of Quanta Services in the fourth quarter worth about $34,000. Institutional investors and hedge funds own 90.49% of the company's stock.
Wall Street Analyst Weigh In
PWR has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on Quanta Services from $297.00 to $323.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Roth Capital raised Quanta Services to a "strong-buy" rating in a research report on Thursday, February 20th. Daiwa Capital Markets cut shares of Quanta Services from an "outperform" rating to a "neutral" rating in a research report on Monday, February 24th. Citigroup reduced their price objective on 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, Stifel Nicolaus lowered their price target on shares of Quanta Services from $323.00 to $287.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Quanta Services currently has an average rating of "Moderate Buy" and an average target price of $319.25.
Read Our Latest Report on Quanta Services
Quanta Services Stock Performance
PWR traded up $3.83 on Monday, hitting $273.40. 306,534 shares of the company traded hands, compared to its average volume of 1,684,377. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $365.88. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The company has a 50 day moving average of $267.21 and a 200-day moving average of $302.57. The stock has a market capitalization of $40.52 billion, a PE ratio of 45.34, a PEG ratio of 1.41 and a beta of 1.04.
Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping analysts' consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The firm had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. Sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.
Quanta Services Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend was Thursday, April 3rd. Quanta Services's payout ratio is currently 6.63%.
Quanta Services Profile
(
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.
Featured Articles
Before you consider Quanta Services, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Quanta Services wasn't on the list.
While Quanta Services currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
