Cozad Asset Management Inc. Sells 1,020 Shares of Quanta Services, Inc. (NYSE:PWR)

Key Points

• Cozad Asset Management Inc. has reduced its holdings in Quanta Services by 6.5%, owning 14,555 shares worth approximately $3.7 million as of the latest SEC filing.
• Several institutional investors have recently increased their stakes in Quanta Services, contributing to a total institutional ownership of 90.49%.
• Equities research analysts have a consensus rating of "Moderate Buy" for Quanta Services, with target prices ranging significantly, reflecting a positive outlook for the company's future performance.

Cozad Asset Management Inc. cut its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 6.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,555 shares of the construction company's stock after selling 1,020 shares during the quarter. Cozad Asset Management Inc.'s holdings in Quanta Services were worth $3,700,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Capital World Investors grew its holdings in shares of Quanta Services by 14.1% in the fourth quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock worth $2,282,978,000 after purchasing an additional 891,977 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Quanta Services by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company's stock valued at $1,121,830,000 after buying an additional 99,416 shares during the last quarter. Invesco Ltd. raised its position in shares of Quanta Services by 3.7% in the 4th quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company's stock valued at $604,871,000 after purchasing an additional 68,565 shares during the last quarter. Bank of America Corp DE raised its position in shares of Quanta Services by 42.8% in the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock valued at $534,647,000 after purchasing an additional 506,722 shares during the last quarter. Finally, Northern Trust Corp raised its position in Quanta Services by 18.5% during the 4th quarter. Northern Trust Corp now owns 1,489,433 shares of the construction company's stock worth $470,735,000 after buying an additional 232,375 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PWR has been the topic of a number of analyst reports. B. Riley raised their price objective on shares of Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Wall Street Zen upgraded shares of Quanta Services from a "hold" rating to a "buy" rating in a report on Friday, June 27th. Truist Financial cut their price target on shares of Quanta Services from $398.00 to $324.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Citigroup upped their price target on Quanta Services from $432.00 to $492.00 and gave the company a "buy" rating in a report on Monday. Finally, Northland Capmk downgraded Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. Eleven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Quanta Services currently has an average rating of "Moderate Buy" and a consensus target price of $375.23.

Quanta Services Stock Down 2.6%

NYSE:PWR traded down $10.60 during trading hours on Friday, hitting $395.53. 1,535,742 shares of the company's stock traded hands, compared to its average volume of 1,443,472. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.26 and a current ratio of 1.31. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $424.94. The stock's fifty day moving average price is $374.19 and its two-hundred day moving average price is $318.48. The firm has a market cap of $58.64 billion, a P/E ratio of 63.80, a P/E/G ratio of 2.83 and a beta of 1.08.

Quanta Services (NYSE:PWR - Get Free Report) last issued its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.04. Quanta Services had a return on equity of 18.06% and a net margin of 3.74%. The company had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same period in the prior year, the firm posted $1.90 EPS. The business's revenue was up 21.1% compared to the same quarter last year. On average, research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Tuesday, July 1st. Quanta Services's dividend payout ratio is 6.45%.

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.