Massachusetts Financial Services Co. MA lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,185,076 shares of the construction company's stock after selling 52,018 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.80% of Quanta Services worth $374,543,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also added to or reduced their stakes in PWR. Webster Bank N. A. increased its position in shares of Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock valued at $26,000 after buying an additional 81 shares during the period. Sierra Ocean LLC purchased a new position in shares of Quanta Services during the 4th quarter worth approximately $27,000. Prestige Wealth Management Group LLC bought a new position in shares of Quanta Services in the 3rd quarter worth approximately $30,000. Legacy Investment Solutions LLC purchased a new position in shares of Quanta Services in the 3rd quarter valued at approximately $31,000. Finally, Sound Income Strategies LLC boosted its position 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 valued at $33,000 after purchasing an additional 91 shares in the last quarter. Institutional investors own 90.49% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have commented on PWR shares. BMO Capital Markets raised Quanta Services from a "market perform" rating to an "outperform" rating and lowered their price objective for the company from $338.00 to $316.00 in a research report on Tuesday, February 25th. Roth Capital raised shares of Quanta Services to a "strong-buy" rating in a research note on Thursday, February 20th. Truist Financial decreased their target price on shares of Quanta Services from $399.00 to $398.00 and set a "buy" rating for the company in a research note on Thursday, January 16th. B. Riley reiterated a "neutral" rating and set a $300.00 price objective (down previously from $343.00) on shares of Quanta Services in a research note on Wednesday, March 19th. Finally, Daiwa Capital Markets downgraded Quanta Services from an "outperform" rating to a "neutral" rating in a report on Monday, February 24th. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Quanta Services currently has an average rating of "Moderate Buy" and an average price target of $326.79.
Check Out Our Latest Research Report on PWR
Quanta Services Price Performance
Shares of NYSE PWR traded down $1.10 during midday trading on Monday, hitting $238.37. The stock had a trading volume of 906,067 shares, compared to its average volume of 1,690,145. 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 stock has a 50 day simple moving average of $273.15 and a 200-day simple moving average of $304.43. The company has a market capitalization of $35.33 billion, a PE ratio of 39.53, a P/E/G ratio of 1.41 and a beta of 1.04. 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 announced its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.12. The company had revenue of $6.55 billion for the quarter, compared to analysts' expectations of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. On average, sell-side analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.
Quanta Services Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.17%. The ex-dividend date is Thursday, April 3rd. Quanta Services's dividend payout ratio is currently 6.63%.
About Quanta Services
(
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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