Applied Finance Capital Management LLC Sells 2,406 Shares of Quanta Services, Inc. (NYSE:PWR)

Applied Finance Capital Management LLC lowered its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 1.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 142,403 shares of the construction company's stock after selling 2,406 shares during the quarter. Quanta Services accounts for about 2.0% of Applied Finance Capital Management LLC's holdings, making the stock its 22nd largest position. Applied Finance Capital Management LLC owned 0.10% of Quanta Services worth $45,006,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Webster Bank N. A. increased its stake in Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock valued at $26,000 after acquiring an additional 81 shares during the period. Sierra Ocean LLC bought a new stake in shares of Quanta Services in the 4th quarter valued at approximately $27,000. Legacy Investment Solutions LLC acquired a new position in shares of Quanta Services in the 3rd quarter worth approximately $31,000. Prestige Wealth Management Group LLC bought a new position in shares of Quanta Services during the 3rd quarter worth approximately $30,000. Finally, Sound Income Strategies LLC boosted its stake in Quanta Services by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock valued at $33,000 after buying an additional 91 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Analyst Upgrades and Downgrades

PWR has been the subject of several recent analyst reports. Stifel Nicolaus dropped their price objective on Quanta Services from $323.00 to $287.00 and set a "buy" rating for the company in a research note on Wednesday. BMO Capital Markets raised shares of Quanta Services from a "market perform" rating to an "outperform" rating and cut their price target for the company from $338.00 to $316.00 in a report on Tuesday, February 25th. Citigroup decreased 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. Bank of America began coverage on shares of Quanta Services in a research note on Friday, January 24th. They issued a "buy" rating and a $407.00 target price for the company. Finally, Piper Sandler started coverage on Quanta Services in a research report on Tuesday, April 8th. They set an "overweight" rating and a $286.00 price target on the stock. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Quanta Services currently has a consensus rating of "Moderate Buy" and a consensus price target of $319.25.

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Quanta Services Trading Up 2.7 %

Shares of NYSE:PWR traded up $7.20 during trading on Friday, hitting $269.90. 1,098,254 shares of the company's stock were exchanged, compared to its average volume of 1,705,356. 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 firm 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 firm has a 50-day moving average price of $267.21 and a two-hundred day moving average price of $302.57. 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 released its earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping analysts' consensus estimates of $2.62 by $0.12. The firm had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. Equities analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.15%. The ex-dividend date was Thursday, April 3rd. Quanta Services's payout ratio is 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.