FMR LLC cut its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,025,021 shares of the construction company's stock after selling 276,596 shares during the period. FMR LLC owned 3.40% of Quanta Services worth $1,588,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Webster Bank N. A. lifted its stake in Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Sierra Ocean LLC purchased a new position in shares of Quanta Services in the 4th quarter valued at about $27,000. Prestige Wealth Management Group LLC acquired a new position in shares of Quanta Services during the third quarter worth about $30,000. Legacy Investment Solutions LLC acquired a new stake in shares of Quanta Services in the 3rd quarter valued at $31,000. Finally, Sound Income Strategies LLC grew its stake in shares of Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock worth $33,000 after purchasing an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on PWR. Daiwa America cut Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 24th. Stifel Nicolaus dropped their price target on Quanta Services from $323.00 to $287.00 and set a "buy" rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. upped their target price on shares of Quanta Services from $297.00 to $323.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Roth Mkm started coverage on Quanta Services in a report on Friday, February 21st. They set a "buy" rating and a $350.00 price target on the stock. Finally, Truist Financial reduced their price objective on Quanta Services from $398.00 to $324.00 and set a "buy" rating for the company in a research note on Tuesday. Seven investment 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 stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $319.25.
Get Our Latest Research Report on PWR
Quanta Services Price Performance
Shares of NYSE:PWR traded up $7.20 during midday trading on Friday, hitting $269.90. 1,098,254 shares of the stock were exchanged, compared to its average volume of 1,705,356. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $365.88. The stock has a market cap of $40.00 billion, a P/E ratio of 44.76, a PEG ratio of 1.41 and a beta of 1.04. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The company has a 50 day moving average price of $267.21 and a 200-day moving average price of $302.53.
Quanta Services (NYSE:PWR - Get Free Report) last announced its earnings results 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. The firm had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. On average, research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.
Quanta Services Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.15%. The ex-dividend date 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.
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