Quanta Services, Inc. (NYSE:PWR) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury reduced its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 9.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,217 shares of the construction company's stock after selling 5,309 shares during the period. State of Tennessee Department of Treasury's holdings in Quanta Services were worth $15,871,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Quanta Services in the 4th quarter worth $544,937,000. Capital World Investors lifted its stake in shares of Quanta Services by 14.1% in the fourth quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock worth $2,282,978,000 after acquiring an additional 891,977 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Quanta Services in the fourth quarter valued at about $203,068,000. First Trust Advisors LP grew its stake in Quanta Services by 54.1% during the 4th quarter. First Trust Advisors LP now owns 725,453 shares of the construction company's stock valued at $229,279,000 after purchasing an additional 254,640 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in Quanta Services during the 4th quarter worth approximately $53,949,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PWR shares. Citigroup reduced their target price on Quanta Services from $394.00 to $371.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Daiwa America upgraded shares of Quanta Services from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 11th. BMO Capital Markets raised shares of Quanta Services from a "market perform" rating to an "outperform" rating and dropped their target price for the stock from $338.00 to $316.00 in a research report on Tuesday, February 25th. Roth Mkm assumed coverage on Quanta Services in a research note on Friday, February 21st. They issued a "buy" rating and a $350.00 price target for the company. Finally, Bank of America initiated coverage on Quanta Services in a report on Friday, January 24th. They issued a "buy" rating and a $407.00 price objective for the company. Six analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $319.25.

Quanta Services Price Performance

NYSE PWR opened at $261.88 on Wednesday. The company has a 50-day moving average price of $262.09 and a two-hundred day moving average price of $300.98. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $365.88. The stock has a market cap of $38.83 billion, a price-to-earnings ratio of 43.43, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. 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 (NYSE:PWR - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. Analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

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

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