BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 18,194 Shares of Quanta Services, Inc. (NYSE:PWR)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 16.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 93,225 shares of the construction company's stock after selling 18,194 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.06% of Quanta Services worth $29,464,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Geneos Wealth Management Inc. increased its stake in shares of Quanta Services by 0.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company's stock valued at $1,317,000 after acquiring an additional 29 shares during the period. Commonwealth Financial Services LLC increased its position in shares of Quanta Services by 2.6% during the 4th quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company's stock valued at $364,000 after purchasing an additional 29 shares during the period. Moody Lynn & Lieberson LLC raised its stake in shares of Quanta Services by 0.5% in the 4th quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company's stock worth $1,941,000 after buying an additional 32 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of Quanta Services by 7.8% in the fourth quarter. Larson Financial Group LLC now owns 456 shares of the construction company's stock valued at $144,000 after buying an additional 33 shares during the period. Finally, Valley National Advisers Inc. boosted its stake in Quanta Services by 0.5% during the fourth quarter. Valley National Advisers Inc. now owns 6,976 shares of the construction company's stock valued at $2,204,000 after buying an additional 34 shares in the last quarter. Institutional investors own 90.49% of the company's stock.

Analysts Set New Price Targets

PWR has been the topic of several research reports. Stifel Nicolaus boosted their price target on shares of Quanta Services from $306.00 to $363.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Piper Sandler increased their target price on shares of Quanta Services from $360.00 to $370.00 and gave the company an "overweight" rating in a research note on Tuesday. TD Cowen raised their target price on shares of Quanta Services from $335.00 to $355.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. upped their price target on Quanta Services from $297.00 to $323.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Finally, Argus set a $375.00 price objective on Quanta Services in a research note on Monday, May 5th. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Quanta Services presently has an average rating of "Moderate Buy" and a consensus price target of $344.85.

Quanta Services Stock Up 1.8%

PWR traded up $6.06 on Tuesday, reaching $341.42. 417,803 shares of the company traded hands, compared to its average volume of 1,570,584. The company has a market cap of $50.62 billion, a price-to-earnings ratio of 56.62, a PEG ratio of 1.41 and a beta of 1.02. 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's 50 day moving average price is $290.60 and its 200-day moving average price is $302.70. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $365.88.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.72 by $0.06. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business had revenue of $6.23 billion for the quarter, compared to analysts' expectations of $5.88 billion. During the same period in the previous year, the company posted $1.41 EPS. Quanta Services's revenue was up 23.9% on a year-over-year basis. On average, sell-side analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date is Tuesday, July 1st. Quanta Services's dividend payout ratio (DPR) is presently 6.45%.

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.