Joho Capital LLC Sells 42,500 Shares of Quanta Services, Inc. (NYSE:PWR)

Joho Capital LLC reduced its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 14.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 247,643 shares of the construction company's stock after selling 42,500 shares during the quarter. Quanta Services makes up approximately 13.6% of Joho Capital LLC's holdings, making the stock its 4th biggest position. Joho Capital LLC owned approximately 0.17% of Quanta Services worth $78,268,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kestra Private Wealth Services LLC increased its stake in Quanta Services by 85.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company's stock valued at $1,502,000 after buying an additional 2,184 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Quanta Services by 5.6% in the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company's stock valued at $61,932,000 after acquiring an additional 11,012 shares during the last quarter. Synovus Financial Corp raised its holdings in Quanta Services by 34.0% during the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company's stock worth $2,148,000 after acquiring an additional 1,830 shares in the last quarter. Allstate Corp acquired a new position in Quanta Services during the fourth quarter valued at approximately $1,357,000. Finally, Hennion & Walsh Asset Management Inc. grew its stake in Quanta Services by 4.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 17,573 shares of the construction company's stock valued at $5,554,000 after purchasing an additional 793 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Guggenheim started coverage on Quanta Services in a research note on Wednesday, January 8th. They set a "neutral" rating on the stock. Piper Sandler began coverage on shares of Quanta Services in a research note on Tuesday, April 8th. They issued an "overweight" rating and a $286.00 price target for the company. Citigroup lowered their price objective on shares of Quanta Services from $394.00 to $371.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Roth Mkm initiated coverage on Quanta Services in a report on Friday, February 21st. They set a "buy" rating and a $350.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price objective on Quanta Services from $297.00 to $323.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Six analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $319.25.

Quanta Services Stock Performance

NYSE PWR opened at $261.88 on Wednesday. The firm has a 50-day moving average price of $262.09 and a two-hundred day moving average price of $300.98. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $365.88. The company has a market capitalization of $38.83 billion, a P/E ratio of 43.43, a P/E/G ratio of 1.41 and a beta of 1.04. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (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 business had revenue of $6.55 billion during the quarter, compared to analysts' expectations of $6.61 billion. Analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date was Thursday, April 3rd. Quanta Services's dividend payout ratio (DPR) is presently 6.63%.

Quanta Services 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.

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