Monarch Capital Management Inc. Sells 1,064 Shares of Quanta Services, Inc. (NYSE:PWR)

Monarch Capital Management Inc. lessened its position 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 13F filing with the Securities and Exchange Commission. The firm owned 24,020 shares of the construction company's stock after selling 1,064 shares during the period. Quanta Services makes up about 2.1% of Monarch Capital Management Inc.'s portfolio, making the stock its 16th largest holding. Monarch Capital Management Inc.'s holdings in Quanta Services were worth $7,592,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. TruWealth Advisors LLC boosted its stake in Quanta Services by 1.3% in the fourth quarter. TruWealth Advisors LLC now owns 45,553 shares of the construction company's stock valued at $14,397,000 after buying an additional 583 shares in the last quarter. HB Wealth Management LLC boosted its stake in shares of Quanta Services by 0.9% in the 4th quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company's stock valued at $1,050,000 after purchasing an additional 31 shares in the last quarter. Arkadios Wealth Advisors bought a new position in shares of Quanta Services in the 4th quarter valued at $260,000. Brooklyn Investment Group grew its position in Quanta Services by 17.4% during the 4th quarter. Brooklyn Investment Group now owns 492 shares of the construction company's stock worth $155,000 after acquiring an additional 73 shares during the last quarter. Finally, Merit Financial Group LLC acquired a new stake in shares of Quanta Services during the fourth quarter valued at about $482,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Wall Street Analysts Forecast Growth

PWR has been the subject of several analyst reports. JPMorgan Chase & Co. assumed coverage on shares of Quanta Services in a research note on Monday, October 7th. They set a "neutral" rating and a $297.00 price target for the company. Truist Financial reduced their price target on Quanta Services from $399.00 to $398.00 and set a "buy" rating on the stock in a research report on Thursday. TD Cowen raised their price objective on Quanta Services from $280.00 to $335.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. Northland Securities reissued an "outperform" rating and set a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Finally, Stifel Nicolaus boosted their price target on shares of Quanta Services from $343.00 to $374.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $324.19.

Quanta Services Stock Up 0.3 %

NYSE PWR traded up $0.91 during mid-day trading on Friday, hitting $337.10. The company's stock had a trading volume of 1,358,031 shares, compared to its average volume of 847,447. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The company's 50 day simple moving average is $329.35 and its 200 day simple moving average is $296.78. Quanta Services, Inc. has a twelve month low of $187.27 and a twelve month high of $350.19. The firm has a market capitalization of $49.76 billion, a price-to-earnings ratio of 62.20 and a beta of 1.06.

Quanta Services (NYSE:PWR - Get Free Report) last posted its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.46 by $0.26. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm's revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.08 earnings per share. Analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This is a boost from Quanta Services's previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 0.12%. Quanta Services's dividend payout ratio (DPR) is 7.38%.

Quanta Services Company 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.