Chilton Capital Management LLC Decreases Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Chilton Capital Management LLC cut its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 1.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 137,900 shares of the construction company's stock after selling 2,356 shares during the quarter. Quanta Services comprises 1.5% of Chilton Capital Management LLC's investment portfolio, making the stock its 19th biggest holding. Chilton Capital Management LLC owned approximately 0.09% of Quanta Services worth $35,051,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PWR. Banque Transatlantique SA bought a new stake in shares of Quanta Services during the fourth quarter valued at approximately $25,000. Quarry LP bought a new stake in shares of Quanta Services in the 4th quarter worth $26,000. Rakuten Securities Inc. raised 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 worth $39,000 after purchasing an additional 113 shares during the last quarter. OLD Second National Bank of Aurora bought a new position in shares of Quanta Services during the first quarter valued at $42,000. Finally, Sound Income Strategies LLC boosted its position in shares of Quanta Services by 77.9% during the first quarter. Sound Income Strategies LLC now owns 185 shares of the construction company's stock valued at $47,000 after buying an additional 81 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Performance

PWR traded down $7.96 on Tuesday, hitting $377.84. 1,154,614 shares of the company traded hands, compared to its average volume of 1,082,942. The company has a 50 day moving average of $351.05 and a 200-day moving average of $309.28. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $388.00. The stock has a market capitalization of $56.02 billion, a PE ratio of 60.94, a PEG ratio of 3.00 and a beta of 1.08. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.58.

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, topping analysts' consensus estimates of $1.72 by $0.06. Quanta Services had a return on equity of 18.06% and a net margin of 3.74%. The business had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. During the same period in the prior year, the business posted $1.41 EPS. The company's revenue for the quarter was up 23.9% on a year-over-year basis. Sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.11%. Quanta Services's dividend payout ratio is currently 6.45%.

Analysts Set New Price Targets

Several brokerages recently issued reports on PWR. Argus set a $375.00 target price on shares of Quanta Services in a report on Monday, May 5th. BMO Capital Markets set a $352.00 price objective on Quanta Services in a research report on Friday, May 2nd. Piper Sandler reissued an "overweight" rating and issued a $370.00 target price (up from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. Daiwa America upgraded Quanta Services from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 11th. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $414.00 price objective (up previously from $364.00) on shares of Quanta Services in a research note on Wednesday, June 4th. Eight 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 stock. Based on data from MarketBeat, Quanta Services has a consensus rating of "Moderate Buy" and an average target price of $350.95.

About Quanta Services

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.