Prudential Financial Inc. Has $30.59 Million Stock Position in Quanta Services, Inc. (NYSE:PWR)

Prudential Financial Inc. lowered its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 15.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 96,778 shares of the construction company's stock after selling 17,950 shares during the quarter. Prudential Financial Inc. owned about 0.07% of Quanta Services worth $30,587,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in PWR. Vanguard Group Inc. grew its position in shares of Quanta Services by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company's stock worth $5,375,828,000 after buying an additional 161,277 shares in the last quarter. State Street Corp boosted its holdings in shares of Quanta Services by 1.6% in the third quarter. State Street Corp now owns 5,748,637 shares of the construction company's stock valued at $1,713,956,000 after acquiring an additional 89,975 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Quanta Services by 1.4% during the third quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company's stock valued at $1,027,887,000 after acquiring an additional 46,357 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Quanta Services by 4.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company's stock worth $316,055,000 after purchasing an additional 43,715 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Quanta Services by 4.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,024,510 shares of the construction company's stock worth $323,797,000 after acquiring an additional 45,486 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

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Quanta Services Price Performance

PWR stock traded down $0.71 during trading on Friday, hitting $254.17. 1,150,073 shares of the stock traded hands, compared to its average volume of 1,724,061. The stock has a market cap of $37.67 billion, a price-to-earnings ratio of 42.15, a P/E/G ratio of 1.41 and a beta of 1.10. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a one year low of $227.11 and a one year high of $365.88. The company has a 50 day simple moving average of $283.07 and a 200 day simple moving average of $305.05.

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 analysts' consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The company had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Equities analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date is Thursday, April 3rd. Quanta Services's dividend payout ratio (DPR) is currently 6.63%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Guggenheim initiated coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They issued a "neutral" rating on the stock. Citigroup cut their price target on shares of Quanta Services from $394.00 to $371.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Roth Capital raised Quanta Services to a "strong-buy" rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. lifted their price target on Quanta Services from $297.00 to $323.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Finally, Daiwa America downgraded shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 24th. Seven research 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 stock. Based on data from MarketBeat, Quanta Services has an average rating of "Moderate Buy" and a consensus price target of $326.79.

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.