Quanta Services, Inc. (NYSE:PWR) Shares Sold by Knights of Columbus Asset Advisors LLC

Key Points

• Knights of Columbus Asset Advisors LLC reduced its holdings in Quanta Services, Inc. by 55.3%, now owning 6,017 shares valued at approximately $1.53 million.
• Research analysts hold a consensus rating of "Moderate Buy" for Quanta Services, with a consensus target price of $362.25 and various recent upgrades and downgrades among the ratings.
• Quanta Services recently reported a 23.9% year-over-year revenue increase, achieving $6.23 billion and beating earnings expectations with $1.78 EPS for the last quarter.

Knights of Columbus Asset Advisors LLC lowered its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 55.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 6,017 shares of the construction company's stock after selling 7,450 shares during the period. Knights of Columbus Asset Advisors LLC's holdings in Quanta Services were worth $1,529,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Capital World Investors boosted its position in Quanta Services by 14.1% in the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock valued at $2,282,978,000 after buying an additional 891,977 shares during the period. Geode Capital Management LLC lifted its position in shares of Quanta Services by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company's stock worth $1,121,830,000 after purchasing an additional 99,416 shares during the last quarter. Invesco Ltd. lifted its position in shares of Quanta Services by 3.7% during the 4th quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company's stock worth $604,871,000 after purchasing an additional 68,565 shares during the last quarter. Norges Bank purchased a new stake in shares of Quanta Services during the 4th quarter worth $544,937,000. Finally, Bank of America Corp DE lifted its position in shares of Quanta Services by 42.8% during the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock worth $534,647,000 after purchasing an additional 506,722 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Price Performance

PWR traded down $10.11 on Monday, hitting $411.57. 2,101,397 shares of the company were exchanged, compared to its average volume of 1,435,867. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.26 and a current ratio of 1.31. The business's fifty day moving average is $368.62 and its 200 day moving average is $315.86. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $424.94. The firm has a market capitalization of $61.02 billion, a P/E ratio of 66.38, a price-to-earnings-growth ratio of 2.90 and a beta of 1.08.

Quanta Services (NYSE:PWR - Get Free Report) last issued its earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The company had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. During the same period in the prior year, the business posted $1.41 earnings per share. The firm's revenue for the quarter was up 23.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors 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 0.10%. The ex-dividend date of this dividend was Tuesday, July 1st. Quanta Services's payout ratio is 6.45%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PWR shares. TD Cowen lifted their price objective on shares of Quanta Services from $335.00 to $355.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Wall Street Zen raised shares of Quanta Services from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Piper Sandler reissued an "overweight" rating and issued a $370.00 price target (up from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. Stifel Nicolaus boosted their price target on shares of Quanta Services from $363.00 to $411.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Finally, BMO Capital Markets cut shares of Quanta Services from an "outperform" rating to a "market perform" rating and boosted their price target for the company from $352.00 to $400.00 in a research report on Thursday, July 17th. Eleven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $371.67.

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.