GTS Securities LLC Sells 22,297 Shares of Quanta Services, Inc. (NYSE:PWR)

GTS Securities LLC lowered its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 94.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,314 shares of the construction company's stock after selling 22,297 shares during the quarter. GTS Securities LLC's holdings in Quanta Services were worth $415,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PWR. Banque Transatlantique SA bought a new stake in shares of Quanta Services in the fourth quarter worth $25,000. Quarry LP acquired a new stake in shares of Quanta Services in the fourth quarter valued at about $26,000. Webster Bank N. A. raised its holdings in Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Sierra Ocean LLC acquired a new position in Quanta Services during the fourth quarter valued at approximately $27,000. Finally, Centricity Wealth Management LLC bought a new position in Quanta Services in the fourth quarter valued at approximately $34,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PWR shares. Piper Sandler reissued an "overweight" rating and issued a $370.00 price objective (up previously from $360.00) on shares of Quanta Services in a report on Tuesday, May 27th. Stifel Nicolaus boosted their price objective on shares of Quanta Services from $306.00 to $363.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Truist Financial cut their target price on shares of Quanta Services from $398.00 to $324.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Roth Mkm initiated coverage on Quanta Services in a research note on Friday, February 21st. They issued a "buy" rating and a $350.00 price objective on the stock. Finally, Evercore ISI increased their price target on Quanta Services from $331.00 to $360.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Six research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $344.85.

Quanta Services Trading Up 0.7%

PWR traded up $2.30 during midday trading on Friday, hitting $342.04. 1,655,321 shares of the company were exchanged, compared to its average volume of 1,548,252. The firm's 50 day moving average price is $295.98 and its 200-day moving average price is $303.10. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $365.88. The firm has a market capitalization of $50.71 billion, a P/E ratio of 56.72, a P/E/G ratio of 1.41 and a beta of 1.02. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR - Get Free Report) last announced its earnings results on Thursday, May 1st. The construction company reported $1.78 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 18.00% and a net margin of 3.82%. The firm's revenue was up 23.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.41 earnings per share. As a group, equities analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

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 issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. Quanta Services's payout ratio is currently 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.