Sei Investments Co. Sells 14,250 Shares of Quanta Services, Inc. (NYSE:PWR)

Sei Investments Co. reduced its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 4.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 340,543 shares of the construction company's stock after selling 14,250 shares during the quarter. Sei Investments Co. owned approximately 0.23% of Quanta Services worth $107,628,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. State Street Corp boosted its position in shares of Quanta Services by 1.6% during the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company's stock valued at $1,713,956,000 after acquiring an additional 89,975 shares in the last quarter. Geode Capital Management LLC lifted its stake in Quanta Services by 1.4% during the third quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company's stock worth $1,027,887,000 after purchasing an additional 46,357 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Quanta Services by 4.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company's stock valued at $316,055,000 after purchasing an additional 43,715 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Quanta Services by 4.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,024,510 shares of the construction company's stock valued at $323,797,000 after purchasing an additional 45,486 shares during the period. Finally, Swedbank AB raised its holdings in shares of Quanta Services by 4.6% in the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company's stock worth $286,248,000 after buying an additional 42,579 shares in the last quarter. Institutional investors own 90.49% of the company's stock.

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Quanta Services Trading Down 2.4 %

Shares of Quanta Services stock traded down $6.17 on Thursday, hitting $254.47. 1,563,351 shares of the company's stock traded hands, compared to its average volume of 1,733,652. Quanta Services, Inc. has a one year low of $227.11 and a one year high of $365.88. 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 stock has a market capitalization of $37.71 billion, a PE ratio of 42.20, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. The firm's 50-day moving average price is $284.73 and its two-hundred day moving average price is $304.34.

Quanta Services (NYSE:PWR - Get Free Report) last released its earnings results 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 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%. On average, research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently declared 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. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. Quanta Services's dividend payout ratio is 6.63%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Truist Financial lowered their price target on Quanta Services from $399.00 to $398.00 and set a "buy" rating on the stock in a research report on Thursday, January 16th. BMO Capital Markets upgraded 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 shares of Quanta Services in a research report on Friday, February 21st. They issued a "buy" rating and a $350.00 price target on the stock. Daiwa America lowered shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Monday, February 24th. Finally, B. Riley reiterated a "neutral" rating and issued a $300.00 target price (down previously from $343.00) on shares of Quanta Services in a research note on Wednesday, March 19th. 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 stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $326.79.

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.