Paradiem LLC Sells 2,452 Shares of Quanta Services, Inc. (NYSE:PWR)

Paradiem LLC lessened its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 12.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,971 shares of the construction company's stock after selling 2,452 shares during the quarter. Paradiem LLC's holdings in Quanta Services were worth $4,314,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Larson Financial Group LLC lifted its stake in Quanta Services by 7.8% during the 4th quarter. Larson Financial Group LLC now owns 456 shares of the construction company's stock valued at $144,000 after acquiring an additional 33 shares in the last quarter. Rothschild Investment LLC lifted its stake in Quanta Services by 7.9% during the 4th quarter. Rothschild Investment LLC now owns 463 shares of the construction company's stock valued at $146,000 after acquiring an additional 34 shares in the last quarter. Wealthspire Advisors LLC lifted its position in shares of Quanta Services by 1.9% during the fourth quarter. Wealthspire Advisors LLC now owns 2,034 shares of the construction company's stock valued at $643,000 after purchasing an additional 37 shares in the last quarter. Pinion Investment Advisors LLC lifted its position in shares of Quanta Services by 2.7% during the fourth quarter. Pinion Investment Advisors LLC now owns 1,534 shares of the construction company's stock valued at $485,000 after purchasing an additional 40 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC lifted its position in shares of Quanta Services by 0.3% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 13,467 shares of the construction company's stock valued at $4,256,000 after purchasing an additional 41 shares in the last quarter. Institutional investors own 90.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. The Goldman Sachs Group reissued a "buy" rating and set a $414.00 target price (up previously from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. Daiwa Capital Markets cut shares of Quanta Services from an "outperform" rating to a "neutral" rating in a research report on Monday, February 24th. Evercore ISI lifted their price target on Quanta Services from $331.00 to $360.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Citigroup dropped their price target on Quanta Services from $366.00 to $342.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Finally, BMO Capital Markets set a $352.00 price target on Quanta Services in a report on Friday, May 2nd. Six research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $349.65.

Quanta Services Trading Up 0.0%

Shares of Quanta Services stock opened at $360.51 on Friday. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $367.00. The stock's 50-day simple moving average is $326.30 and its 200 day simple moving average is $305.35. The stock has a market capitalization of $53.45 billion, a P/E ratio of 58.15, a P/E/G ratio of 2.81 and a beta of 1.07. 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 (NYSE:PWR - Get Free Report) last issued its earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.72 by $0.06. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The business had revenue of $6.23 billion for the quarter, compared to analysts' expectations of $5.88 billion. During the same quarter in the previous year, the firm posted $1.41 EPS. The business's revenue for the quarter 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 EPS for the current year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.10 per share. 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 is presently 6.45%.

Quanta Services 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.

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