New York State Teachers Retirement System reduced its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 2.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 124,894 shares of the construction company's stock after selling 2,557 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of Quanta Services worth $31,746,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Banque Transatlantique SA purchased a new position in Quanta Services during the fourth quarter worth about $25,000. Quarry LP acquired a new stake in shares of Quanta Services in the 4th quarter valued at approximately $26,000. Rakuten Securities Inc. boosted its stake in shares of Quanta Services by 1,027.3% in the fourth quarter. Rakuten Securities Inc. now owns 124 shares of the construction company's stock valued at $39,000 after buying an additional 113 shares in the last quarter. OLD Second National Bank of Aurora acquired a new position in Quanta Services during the first quarter worth $42,000. Finally, Sound Income Strategies LLC raised its position in Quanta Services by 77.9% in the first quarter. Sound Income Strategies LLC now owns 185 shares of the construction company's stock worth $47,000 after acquiring an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.
Analyst Ratings Changes
PWR has been the topic of a number of recent analyst reports. Stifel Nicolaus upped their price target on shares of Quanta Services from $306.00 to $363.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Citigroup reduced their price target on shares of Quanta Services from $366.00 to $342.00 and set a "buy" rating for the company in a research report on Friday, April 25th. UBS Group set a $413.00 price objective on Quanta Services and gave the company a "buy" rating in a research note on Thursday, June 12th. Daiwa America upgraded Quanta Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Finally, Argus set a $375.00 price objective on shares of Quanta Services in a research note on Monday, May 5th. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Quanta Services presently has an average rating of "Moderate Buy" and a consensus price target of $350.95.
Get Our Latest Analysis on PWR
Quanta Services Trading Up 3.5%
Shares of PWR traded up $13.10 during trading hours on Friday, hitting $386.51. The stock had a trading volume of 869,625 shares, compared to its average volume of 1,121,521. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $387.37. The firm has a market cap of $57.31 billion, a P/E ratio of 62.34, a P/E/G ratio of 2.90 and a beta of 1.08. 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 company's fifty day simple moving average is $345.50 and its 200 day simple moving average is $308.25.
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, beating the consensus estimate of $1.72 by $0.06. The business 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 18.06% and a net margin of 3.74%. The company's revenue was up 23.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.41 EPS. Equities research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.
Quanta Services Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be issued a $0.10 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 annualized dividend and a yield of 0.10%. Quanta Services's dividend payout ratio is currently 6.45%.
Quanta Services Company Profile
(
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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