Public Employees Retirement System of Ohio Has $18.83 Million Stake in Quanta Services, Inc. (NYSE:PWR)

Public Employees Retirement System of Ohio cut its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 5.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,562 shares of the construction company's stock after selling 3,115 shares during the period. Public Employees Retirement System of Ohio's holdings in Quanta Services were worth $18,825,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of PWR. Brighton Jones LLC bought a new stake in Quanta Services during the 4th quarter worth approximately $298,000. Sound Income Strategies LLC grew its position in Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock worth $33,000 after acquiring an additional 91 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its position in Quanta Services by 10.8% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 30,700 shares of the construction company's stock worth $9,703,000 after acquiring an additional 3,000 shares during the last quarter. Carr Financial Group Corp boosted its position in Quanta Services by 17.4% in the 4th quarter. Carr Financial Group Corp now owns 1,293 shares of the construction company's stock valued at $409,000 after buying an additional 192 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in Quanta Services by 0.7% in the 4th quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company's stock valued at $1,317,000 after buying an additional 29 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Argus set a $375.00 price objective on Quanta Services in a research report on Monday, May 5th. TD Cowen increased their price objective on Quanta Services from $335.00 to $355.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. The Goldman Sachs Group decreased their price objective on Quanta Services from $418.00 to $364.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Daiwa Capital Markets lowered Quanta Services from an "outperform" rating to a "neutral" rating in a research report on Monday, February 24th. Finally, Truist Financial reduced their price target on Quanta Services from $398.00 to $324.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Quanta Services has a consensus rating of "Moderate Buy" and a consensus price target of $344.85.

Quanta Services Stock Down 0.6%

Shares of PWR traded down $2.08 during midday trading on Wednesday, hitting $340.27. The stock had a trading volume of 666,016 shares, compared to its average volume of 1,569,531. The company has a 50 day simple moving average of $292.02 and a two-hundred day simple moving average of $302.98. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $365.88. The firm has a market cap of $50.45 billion, a price-to-earnings ratio of 56.43, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19.

Quanta Services (NYSE:PWR - Get Free Report) last released its earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The business had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. During the same quarter in the prior year, the company posted $1.41 earnings per share. Quanta Services's revenue was up 23.9% on a year-over-year basis. On average, analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. 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

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.