Trillium Asset Management LLC Cuts Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Trillium Asset Management LLC cut its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 12.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 73,834 shares of the construction company's stock after selling 10,025 shares during the period. Trillium Asset Management LLC owned approximately 0.05% of Quanta Services worth $23,335,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Webster Bank N. A. boosted its holdings in Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock worth $26,000 after buying an additional 81 shares during the last quarter. Sierra Ocean LLC acquired a new stake in Quanta Services in the 4th quarter worth about $27,000. Prestige Wealth Management Group LLC acquired a new stake in Quanta Services in the 3rd quarter worth about $30,000. Legacy Investment Solutions LLC acquired a new stake in Quanta Services in the 3rd quarter worth about $31,000. Finally, Sound Income Strategies LLC boosted its holdings in Quanta Services by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock worth $33,000 after buying an additional 91 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Trading Down 1.0 %

NYSE PWR traded down $2.67 on Friday, reaching $268.43. The stock had a trading volume of 1,606,022 shares, compared to its average volume of 1,756,634. The firm has a market capitalization of $39.78 billion, a price-to-earnings ratio of 44.52, a P/E/G ratio of 1.41 and a beta of 1.10. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 12-month low of $227.11 and a 12-month high of $365.88. The stock has a fifty day moving average price of $289.30 and a two-hundred day moving average price of $304.27.

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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, beating analysts' consensus estimates of $2.62 by $0.12. The company had revenue of $6.55 billion for 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%. As a group, sell-side analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. Quanta Services's dividend payout ratio is currently 6.63%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PWR. Stifel Nicolaus lowered their price objective on Quanta Services from $388.00 to $323.00 and set a "buy" rating on the stock in a report on Monday, February 24th. Daiwa Capital Markets cut Quanta Services from an "outperform" rating to a "neutral" rating in a report on Monday, February 24th. JPMorgan Chase & Co. boosted their target price on Quanta Services from $297.00 to $323.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. B. Riley restated a "neutral" rating and set a $300.00 target price (down from $343.00) on shares of Quanta Services in a report on Wednesday. Finally, Truist Financial lowered their target price on Quanta Services from $399.00 to $398.00 and set a "buy" rating on the stock in a report on Thursday, January 16th. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $326.79.

Quanta Services Company 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.