Southeast Asset Advisors LLC Reduces Stake in Quanta Services, Inc. (NYSE:PWR)

Southeast Asset Advisors LLC reduced its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 56.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,538 shares of the construction company's stock after selling 4,572 shares during the period. Southeast Asset Advisors LLC's holdings in Quanta Services were worth $1,118,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PWR. Webster Bank N. A. lifted its position 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 acquiring an additional 81 shares during the last quarter. Sierra Ocean LLC acquired a new position in shares of Quanta Services during the 4th quarter worth about $27,000. Prestige Wealth Management Group LLC bought a new stake in Quanta Services during the 3rd quarter valued at approximately $30,000. Legacy Investment Solutions LLC bought a new position in Quanta Services in the 3rd quarter worth approximately $31,000. Finally, Sound Income Strategies LLC lifted its holdings in shares of 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 buying an additional 91 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PWR shares. JPMorgan Chase & Co. boosted their price target on Quanta Services from $297.00 to $323.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Guggenheim started coverage on Quanta Services in a research note on Wednesday, January 8th. They issued a "neutral" rating for the company. Daiwa Capital Markets downgraded shares of Quanta Services from an "outperform" rating to a "neutral" rating in a research note on Monday, February 24th. Roth Mkm began coverage on shares of Quanta Services in a research note on Friday, February 21st. They issued a "buy" rating and a $350.00 price objective for the company. Finally, B. Riley reiterated a "neutral" rating and set a $300.00 target price (down from $343.00) on shares of Quanta Services in a research report on Wednesday, March 19th. Seven equities research 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. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $319.25.

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Quanta Services Stock Up 2.7 %

Shares of Quanta Services stock traded up $7.20 during trading on Friday, reaching $269.90. 1,098,254 shares of the company traded hands, compared to its average volume of 1,705,356. The firm has a market capitalization of $40.00 billion, a PE ratio of 44.76, a P/E/G ratio of 1.41 and a beta of 1.04. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $365.88. The company has a 50 day moving average price of $267.21 and a 200-day moving average price of $302.53. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly 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. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business had revenue of $6.55 billion for the quarter, compared to analysts' expectations of $6.61 billion. As a group, equities research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

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

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.