Quanta Services, Inc. (NYSE:PWR) Holdings Decreased by TIAA Trust National Association

TIAA Trust National Association cut its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 86.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,594 shares of the construction company's stock after selling 35,216 shares during the period. TIAA Trust National Association's holdings in Quanta Services were worth $1,768,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Centaurus Financial Inc. increased its position in shares of Quanta Services by 35.1% during the 3rd quarter. Centaurus Financial Inc. now owns 1,488 shares of the construction company's stock worth $444,000 after purchasing an additional 387 shares during the last quarter. Fisher Asset Management LLC acquired a new stake in shares of Quanta Services during the third quarter valued at about $211,000. DRW Securities LLC purchased a new stake in shares of Quanta Services in the 3rd quarter valued at approximately $481,000. Horizon Kinetics Asset Management LLC purchased a new position in shares of Quanta Services during the 3rd quarter worth approximately $268,000. Finally, Brooklyn Investment Group acquired a new stake in Quanta Services in the 3rd quarter valued at approximately $125,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PWR. Daiwa Capital Markets lowered Quanta Services from an "outperform" rating to a "neutral" rating in a research report on Monday, February 24th. B. Riley reaffirmed a "neutral" rating and issued a $300.00 target price (down from $343.00) on shares of Quanta Services in a research report on Wednesday, March 19th. Stifel Nicolaus lowered their price objective on shares of Quanta Services from $388.00 to $323.00 and set a "buy" rating for the company in a research note on Monday, February 24th. Truist Financial cut their target price on shares of Quanta Services from $399.00 to $398.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. Finally, Bank of America began coverage on shares of Quanta Services in a research report on Friday, January 24th. They issued a "buy" rating and a $407.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $326.79.

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Quanta Services Stock Down 0.3 %

Shares of PWR stock traded down $0.71 on Friday, hitting $254.17. The stock had a trading volume of 1,150,073 shares, compared to its average volume of 1,724,061. Quanta Services, Inc. has a 52-week low of $227.11 and a 52-week high of $365.88. The firm has a market capitalization of $37.67 billion, a price-to-earnings ratio of 42.15, a P/E/G ratio of 1.41 and a beta of 1.10. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The stock's 50 day moving average is $283.07 and its 200-day moving average is $304.75.

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

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.16%. Quanta Services's dividend payout ratio is presently 6.63%.

Quanta Services 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.