New England Research & Management Inc. Lowers Holdings in Quanta Services, Inc. (NYSE:PWR)

New England Research & Management Inc. reduced its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 24.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 10,821 shares of the construction company's stock after selling 3,412 shares during the quarter. Quanta Services comprises approximately 1.7% of New England Research & Management Inc.'s holdings, making the stock its 14th largest holding. New England Research & Management Inc.'s holdings in Quanta Services were worth $3,420,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Mackenzie Financial Corp lifted its stake in shares of Quanta Services by 1.6% in the 2nd quarter. Mackenzie Financial Corp now owns 12,762 shares of the construction company's stock valued at $3,243,000 after purchasing an additional 204 shares during the last quarter. Creative Planning boosted its stake in Quanta Services by 8.9% during the second quarter. Creative Planning now owns 20,700 shares of the construction company's stock worth $5,260,000 after buying an additional 1,694 shares during the period. NewEdge Advisors LLC increased its position in Quanta Services by 8.8% during the second quarter. NewEdge Advisors LLC now owns 8,806 shares of the construction company's stock valued at $2,238,000 after acquiring an additional 714 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Quanta Services by 3.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,525 shares of the construction company's stock valued at $2,166,000 after acquiring an additional 300 shares during the period. Finally, Sunbelt Securities Inc. boosted its stake in shares of Quanta Services by 4.6% during the 2nd quarter. Sunbelt Securities Inc. now owns 1,700 shares of the construction company's stock worth $432,000 after purchasing an additional 74 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Up 4.1 %

Quanta Services stock traded up $12.17 during trading hours on Thursday, reaching $309.97. The stock had a trading volume of 834,041 shares, compared to its average volume of 1,466,521. Quanta Services, Inc. has a 52 week low of $193.52 and a 52 week high of $365.88. The business's 50 day moving average price is $329.88 and its 200-day moving average price is $300.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The company has a market cap of $45.75 billion, a price-to-earnings ratio of 57.19 and a beta of 1.06.

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

Quanta Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.10 per share. This is an increase from Quanta Services's previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.13%. The ex-dividend date was Thursday, January 2nd. Quanta Services's payout ratio is presently 7.38%.

Analysts Set New Price Targets

A number of analysts recently weighed in on PWR shares. Citigroup reduced 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 report on Wednesday. JPMorgan Chase & Co. raised their price target on Quanta Services from $297.00 to $323.00 and gave the stock a "neutral" rating in a research note on Tuesday. Bank of America assumed coverage on Quanta Services in a report on Friday, January 24th. They set a "buy" rating and a $407.00 price objective for the company. Robert W. Baird lifted their target price on Quanta Services from $320.00 to $333.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Finally, UBS Group upped their price target on shares of Quanta Services from $313.00 to $367.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $330.06.

About Quanta Services

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.