South Street Advisors LLC lessened its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 69,379 shares of the construction company's stock after selling 1,391 shares during the period. Quanta Services comprises about 3.4% of South Street Advisors LLC's investment portfolio, making the stock its 11th largest position. South Street Advisors LLC's holdings in Quanta Services were worth $21,927,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Webster Bank N. A. raised its holdings in Quanta Services by 4,050.0% during 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 period. Sierra Ocean LLC bought a new stake in shares of Quanta Services in the 4th quarter valued at approximately $27,000. Legacy Investment Solutions LLC bought a new stake in shares of Quanta Services in the 3rd quarter valued at approximately $31,000. Prestige Wealth Management Group LLC bought a new stake in Quanta Services during the third quarter worth approximately $30,000. Finally, Sound Income Strategies LLC boosted its position in Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock worth $33,000 after purchasing an additional 91 shares during the period. Institutional investors own 90.49% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the company. Daiwa America lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 24th. Citigroup dropped their price target on Quanta Services from $394.00 to $371.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Truist Financial dropped their target price 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. Daiwa Capital Markets downgraded Quanta Services from an "outperform" rating to a "neutral" rating in a research note on Monday, February 24th. Finally, Roth Capital upgraded Quanta Services to a "strong-buy" rating in a research note on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $326.79.
Read Our Latest Stock Report on Quanta Services
Quanta Services Stock Down 1.0 %
PWR traded down $2.67 during trading on Friday, hitting $268.43. 1,606,022 shares of the company's stock traded hands, compared to its average volume of 1,756,634. The company's 50 day simple moving average is $289.30 and its two-hundred day simple moving average is $303.94. 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, Inc. has a 12-month low of $227.11 and a 12-month high of $365.88. The stock has a market capitalization of $39.78 billion, a price-to-earnings ratio of 44.52, a PEG ratio of 1.41 and a beta of 1.10.
Quanta Services (NYSE:PWR - Get Free Report) last issued its earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The business had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. Analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.
Quanta Services Announces Dividend
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 issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.15%. Quanta Services's payout ratio is 6.63%.
About Quanta Services
(
Free Report)
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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