Quanta Services, Inc. (NYSE:PWR) Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. cut its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 28.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 422,471 shares of the construction company's stock after selling 171,193 shares during the quarter. Bessemer Group Inc. owned approximately 0.28% of Quanta Services worth $107,384,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PWR. Larson Financial Group LLC raised its holdings in Quanta Services by 7.8% in 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 during the last quarter. Rothschild Investment LLC increased its holdings in shares of Quanta Services by 7.9% in the fourth quarter. Rothschild Investment LLC now owns 463 shares of the construction company's stock valued at $146,000 after purchasing an additional 34 shares during the last quarter. Wealthspire Advisors LLC boosted its stake in Quanta Services by 1.9% during the fourth quarter. Wealthspire Advisors LLC now owns 2,034 shares of the construction company's stock worth $643,000 after buying an additional 37 shares during the last quarter. Pinion Investment Advisors LLC grew its holdings in Quanta Services by 2.7% in the 4th quarter. Pinion Investment Advisors LLC now owns 1,534 shares of the construction company's stock valued at $485,000 after buying an additional 40 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC grew its holdings in Quanta Services by 0.3% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 13,467 shares of the construction company's stock valued at $4,256,000 after buying an additional 41 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on PWR shares. UBS Group set a $413.00 price target on shares of Quanta Services and gave the company a "buy" rating in a research report on Thursday, June 12th. Stifel Nicolaus increased their price target on shares of Quanta Services from $306.00 to $363.00 and gave the company a "buy" rating in a research note on Monday, May 5th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $414.00 price target (up previously from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. Piper Sandler reiterated an "overweight" rating and issued a $370.00 price objective (up from $360.00) on shares of Quanta Services in a report on Tuesday, May 27th. Finally, TD Cowen raised their target price on Quanta Services from $335.00 to $355.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Six analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $349.65.

Quanta Services Stock Up 0.6%

PWR traded up $2.21 during trading hours on Friday, hitting $381.68. 3,687,738 shares of the company's stock were exchanged, compared to its average volume of 972,807. The firm has a market cap of $56.59 billion, a P/E ratio of 61.56, a price-to-earnings-growth ratio of 2.95 and a beta of 1.07. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $382.79. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.58. The firm has a 50 day moving average of $336.76 and a 200 day moving average of $307.14.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) 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 analysts' expectations 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 for the quarter was up 23.9% compared to the same quarter last year. During the same period last year, the firm earned $1.41 earnings per share. Analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently announced 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 of this dividend is Tuesday, July 1st. This represents a $0.40 annualized dividend and a yield of 0.10%. Quanta Services's dividend payout ratio (DPR) is 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.