Renaissance Group LLC Cuts Stake in Quanta Services, Inc. (NYSE:PWR)

Renaissance Group LLC trimmed its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 4.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,491 shares of the construction company's stock after selling 5,292 shares during the quarter. Quanta Services makes up 1.5% of Renaissance Group LLC's investment portfolio, making the stock its 22nd largest position. Renaissance Group LLC owned approximately 0.08% of Quanta Services worth $35,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Norges Bank bought a new stake in Quanta Services during the 4th quarter valued at $544,937,000. Raymond James Financial Inc. purchased a new stake in Quanta Services in the 4th quarter worth approximately $203,068,000. Proficio Capital Partners LLC bought a new stake in Quanta Services in the fourth quarter valued at $53,949,000. Vanguard Group Inc. lifted its position in shares of Quanta Services by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company's stock worth $5,375,828,000 after purchasing an additional 161,277 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Quanta Services during the 4th quarter valued at about $46,364,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Performance

NYSE PWR traded up $7.20 during trading hours on Friday, hitting $269.90. The company's stock had a trading volume of 1,098,254 shares, compared to its average volume of 1,705,356. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $365.88. The company's 50 day simple moving average is $267.21 and its two-hundred day simple moving average is $302.57. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The company has a market cap of $40.00 billion, a P/E ratio of 44.76, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04.

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Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.12. The firm had revenue of $6.55 billion during the quarter, compared to analysts' expectations of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. As a group, sell-side analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.15%. Quanta Services's payout ratio is 6.63%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Daiwa America cut Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 24th. Roth Mkm initiated coverage on Quanta Services in a research report on Friday, February 21st. They set a "buy" rating and a $350.00 price target on the stock. Citigroup decreased their price objective on Quanta Services from $394.00 to $371.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Bank of America started coverage on shares of Quanta Services in a report on Friday, January 24th. They set a "buy" rating and a $407.00 target price on the stock. Finally, Guggenheim assumed coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They issued a "neutral" rating for the company. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $319.25.

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.