Monarch Capital Management Inc. lessened its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,076 shares of the construction company's stock after selling 944 shares during the quarter. Quanta Services accounts for approximately 1.6% of Monarch Capital Management Inc.'s holdings, making the stock its 22nd largest holding. Monarch Capital Management Inc.'s holdings in Quanta Services were worth $5,865,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the business. Banque Transatlantique SA acquired a new stake in shares of Quanta Services during the fourth quarter worth about $25,000. Quarry LP acquired a new stake in shares of Quanta Services during the fourth quarter worth about $26,000. Sierra Ocean LLC purchased a new position in Quanta Services during the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC purchased a new position in Quanta Services during the fourth quarter valued at approximately $34,000. Finally, Rakuten Securities Inc. raised its position in Quanta Services by 1,027.3% during the fourth quarter. Rakuten Securities Inc. now owns 124 shares of the construction company's stock valued at $39,000 after acquiring an additional 113 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.
Analysts Set New Price Targets
PWR has been the subject of several recent research reports. Stifel Nicolaus lifted their price target on Quanta Services from $306.00 to $363.00 and gave the company a "buy" rating in a research report on Monday, May 5th. BMO Capital Markets set a $352.00 price target on Quanta Services in a research report on Friday, May 2nd. Roth Mkm initiated coverage on Quanta Services in a research report on Friday, February 21st. They set a "buy" rating and a $350.00 price target for the company. Evercore ISI lifted their price target on Quanta Services from $331.00 to $360.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Finally, Roth Capital upgraded Quanta Services to a "strong-buy" rating in a research report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Quanta Services currently has a consensus rating of "Moderate Buy" and a consensus target price of $349.65.
Check Out Our Latest Report on Quanta Services
Quanta Services Trading Down 0.2%
NYSE PWR traded down $0.79 on Friday, reaching $357.86. 796,164 shares of the company were exchanged, compared to its average volume of 1,505,997. The business's fifty day moving average price is $316.61 and its 200 day moving average price is $304.66. The stock has a market capitalization of $53.06 billion, a P/E ratio of 59.35, a price-to-earnings-growth ratio of 1.41 and a beta of 1.07. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $365.88.
Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, topping analysts' consensus estimates of $1.72 by $0.06. The company had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm's revenue for the quarter was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.41 earnings per share. Analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.
Quanta Services Announces Dividend
The firm 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 $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend is Tuesday, July 1st. Quanta Services's dividend payout ratio (DPR) is presently 6.45%.
Quanta Services Company Profile
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Free Report)
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.
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