Saxon Interests Inc. Reduces Stock Position in Quanta Services, Inc. (NYSE:PWR)

Saxon Interests Inc. lessened its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 15.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,541 shares of the construction company's stock after selling 821 shares during the quarter. Saxon Interests Inc.'s holdings in Quanta Services were worth $1,435,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Prestige Wealth Management Group LLC acquired a new stake in shares of Quanta Services in the 3rd quarter worth $30,000. Legacy Investment Solutions LLC purchased a new position in Quanta Services in the 3rd quarter worth $31,000. Quest Partners LLC purchased a new position in Quanta Services in the 2nd quarter worth $35,000. Versant Capital Management Inc raised its stake in Quanta Services by 62.5% in the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company's stock worth $37,000 after acquiring an additional 45 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new position in Quanta Services in the 3rd quarter worth $41,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Price Performance

Shares of NYSE:PWR traded up $0.91 during trading on Friday, reaching $337.10. 1,358,031 shares of the company's stock traded hands, compared to its average volume of 847,447. Quanta Services, Inc. has a fifty-two week low of $187.27 and a fifty-two week high of $350.19. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The firm has a market cap of $49.76 billion, a PE ratio of 62.20 and a beta of 1.06. The company has a 50-day simple moving average of $329.35 and a 200-day simple moving average of $296.14.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company had revenue of $6.49 billion for the quarter, compared to analysts' expectations of $6.56 billion. During the same period in the previous year, the firm posted $2.08 EPS. Quanta Services's revenue was up 15.5% compared to the same quarter last year. As a group, analysts predict that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.10 per share. This is a positive change from Quanta Services's previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 0.12%. The ex-dividend date was Thursday, January 2nd. Quanta Services's payout ratio is 7.38%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. TD Cowen raised their target price on Quanta Services from $280.00 to $335.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. Guggenheim assumed coverage on Quanta Services in a research note on Wednesday, January 8th. They issued a "neutral" rating for the company. Robert W. Baird raised their target price on Quanta Services from $320.00 to $333.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Truist Financial reduced their price objective on Quanta Services from $399.00 to $398.00 and set a "buy" rating for the company in a research note on Thursday. 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 research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $324.19.

About Quanta Services

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.