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Navellier & Associates Inc. Lowers Stake in Quanta Services, Inc. (NYSE:PWR)

Quanta Services logo with Construction background

Navellier & Associates Inc. decreased its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 12.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,376 shares of the construction company's stock after selling 8,026 shares during the period. Quanta Services accounts for approximately 2.0% of Navellier & Associates Inc.'s investment portfolio, making the stock its 6th largest position. Navellier & Associates Inc.'s holdings in Quanta Services were worth $13,821,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Cetera Investment Advisers acquired a new stake in Quanta Services during the 1st quarter worth $12,169,000. Avantax Advisory Services Inc. grew its position in Quanta Services by 7.4% during the first quarter. Avantax Advisory Services Inc. now owns 16,111 shares of the construction company's stock worth $4,095,000 after buying an additional 1,105 shares during the period. Advisor OS LLC grew its position in shares of Quanta Services by 6.9% in the first quarter. Advisor OS LLC now owns 2,701 shares of the construction company's stock valued at $687,000 after purchasing an additional 175 shares during the last quarter. Kovack Advisors Inc. grew its position in shares of Quanta Services by 10.2% in the first quarter. Kovack Advisors Inc. now owns 10,550 shares of the construction company's stock valued at $2,682,000 after purchasing an additional 974 shares during the last quarter. Finally, SFE Investment Counsel grew its position in shares of Quanta Services by 90.8% in the first quarter. SFE Investment Counsel now owns 15,934 shares of the construction company's stock valued at $4,050,000 after purchasing an additional 7,582 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Performance

PWR traded up $14.84 during trading hours on Friday, hitting $422.06. The stock had a trading volume of 1,370,755 shares, compared to its average volume of 1,100,229. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. The stock has a market cap of $62.57 billion, a PE ratio of 68.07, a price-to-earnings-growth ratio of 2.80 and a beta of 1.08. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $424.94. The company's fifty day simple moving average is $367.08 and its 200 day simple moving average is $315.10.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly 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. The firm had revenue of $6.23 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the company posted $1.41 EPS. Equities analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.09%. Quanta Services's dividend payout ratio (DPR) is presently 6.45%.

Analyst Ratings Changes

PWR has been the topic of a number of research analyst reports. B. Riley lifted their price target on shares of Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. BMO Capital Markets downgraded shares of Quanta Services from an "outperform" rating to a "market perform" rating and boosted their price objective for the company from $352.00 to $400.00 in a research report on Thursday, July 17th. UBS Group upped their target price on shares of Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a research report on Friday. Citigroup cut their target price on shares of Quanta Services from $366.00 to $342.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $414.00 price target (up previously from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. Ten analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Quanta Services has an average rating of "Moderate Buy" and an average price target of $362.25.

View Our Latest Analysis on Quanta Services

About Quanta Services

(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.

Further Reading

Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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