Janney Montgomery Scott LLC Sells 15,174 Shares of Quanta Services, Inc. (NYSE:PWR)

Janney Montgomery Scott LLC lowered its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 9.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,357 shares of the construction company's stock after selling 15,174 shares during the period. Janney Montgomery Scott LLC owned about 0.09% of Quanta Services worth $34,914,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Banque Transatlantique SA bought a new position in Quanta Services during the 4th quarter valued at about $25,000. Quarry LP bought a new position in shares of Quanta Services in the 4th quarter valued at about $26,000. Sierra Ocean LLC acquired a new stake in shares of Quanta Services during the fourth quarter worth $27,000. Centricity Wealth Management LLC bought a new stake in Quanta Services in the fourth quarter valued at approximately $34,000. Finally, Rakuten Securities Inc. grew its position in shares of Quanta Services by 1,027.3% in the 4th quarter. Rakuten Securities Inc. now owns 124 shares of the construction company's stock valued at $39,000 after purchasing an additional 113 shares during the period. Institutional investors own 90.49% of the company's stock.

Quanta Services Price Performance

Shares of NYSE PWR opened at $361.77 on Tuesday. The stock has a market cap of $53.64 billion, a price-to-earnings ratio of 60.00, a PEG ratio of 1.41 and a beta of 1.07. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $367.00. The firm's 50-day simple moving average is $318.95 and its 200 day simple moving average is $304.51.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $5.88 billion. During the same period in the prior year, the firm posted $1.41 EPS. The firm's quarterly revenue was up 23.9% compared to the same quarter last year. As a group, research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date is Tuesday, July 1st. Quanta Services's payout ratio is 6.45%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PWR shares. Argus set a $375.00 target price on shares of Quanta Services in a research report on Monday, May 5th. TD Cowen boosted their price target on Quanta Services from $335.00 to $355.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Roth Mkm assumed coverage on Quanta Services in a report on Friday, February 21st. They set a "buy" rating and a $350.00 price objective on the stock. BMO Capital Markets set a $352.00 price target on shares of Quanta Services in a research note on Friday, May 2nd. Finally, UBS Group set a $413.00 price objective on shares of Quanta Services and gave the stock a "buy" rating in a research report on Thursday, June 12th. Six 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. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $349.65.

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.

Want to see what other hedge funds are holding PWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quanta Services, Inc. (NYSE:PWR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.