SageView Advisory Group LLC Lowers Position in Quanta Services, Inc. (NYSE:PWR)

SageView Advisory Group LLC lowered its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 16.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,396 shares of the construction company's stock after selling 1,993 shares during the quarter. SageView Advisory Group LLC's holdings in Quanta Services were worth $3,100,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PWR. CWM LLC raised its holdings in Quanta Services by 9.5% during the 2nd quarter. CWM LLC now owns 5,388 shares of the construction company's stock worth $1,369,000 after purchasing an additional 469 shares during the last quarter. Valeo Financial Advisors LLC grew its holdings in Quanta Services by 81.3% during the 2nd quarter. Valeo Financial Advisors LLC now owns 2,415 shares of the construction company's stock worth $614,000 after acquiring an additional 1,083 shares during the period. Simplicity Wealth LLC raised its position in shares of Quanta Services by 2.3% during the 2nd quarter. Simplicity Wealth LLC now owns 6,880 shares of the construction company's stock valued at $1,748,000 after acquiring an additional 154 shares during the last quarter. Csenge Advisory Group boosted its position in shares of Quanta Services by 20.0% in the 2nd quarter. Csenge Advisory Group now owns 3,984 shares of the construction company's stock worth $1,012,000 after purchasing an additional 663 shares during the last quarter. Finally, CHICAGO TRUST Co NA increased its holdings in Quanta Services by 42.5% in the second quarter. CHICAGO TRUST Co NA now owns 1,157 shares of the construction company's stock valued at $294,000 after purchasing an additional 345 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on PWR. Robert W. Baird upped their price target on Quanta Services from $320.00 to $333.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Truist Financial boosted their price target on shares of Quanta Services from $319.00 to $358.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. initiated coverage on Quanta Services in a research note on Monday, October 7th. They set a "neutral" rating and a $297.00 price objective on the stock. Citigroup boosted their target price on Quanta Services from $302.00 to $348.00 and gave the company a "buy" rating in a research note on Friday, October 4th. Finally, Northland Securities reiterated an "outperform" rating and set a $328.00 price objective (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $314.27.

Quanta Services Stock Performance

NYSE PWR traded up $1.41 during trading on Thursday, reaching $335.07. 775,502 shares of the company's stock were exchanged, compared to its average volume of 891,597. Quanta Services, Inc. has a fifty-two week low of $187.27 and a fifty-two week high of $350.19. The business has a 50 day moving average price of $318.19 and a 200-day moving average price of $284.48. 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 stock has a market capitalization of $49.46 billion, a P/E ratio of 61.56 and a beta of 1.03.

Quanta Services (NYSE:PWR - Get Free Report) last released its 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 firm had revenue of $6.49 billion during the quarter, compared to analysts' expectations 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 period in the prior year, the company earned $2.08 earnings per share. Sell-side analysts forecast that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This is a positive change from Quanta Services's previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. Quanta Services's dividend payout ratio (DPR) is 6.64%.

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.