IFP Advisors Inc Sells 711 Shares of Quanta Services, Inc. (NYSE:PWR)

Key Points

• IFP Advisors Inc reduced its stake in Quanta Services by 28.6%, now owning 1,774 shares valued at approximately $451,000.
• Quanta Services reported a quarterly EPS of $1.78, exceeding analysts' expectations and achieving a revenue of $6.23 billion, which is a 23.9% increase year-over-year.
• The company also declared a quarterly dividend of $0.10 per share, reflecting a modest dividend yield of 0.09% and a payout ratio of 6.45%.

IFP Advisors Inc reduced its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 28.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,774 shares of the construction company's stock after selling 711 shares during the period. IFP Advisors Inc's holdings in Quanta Services were worth $451,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Banque Transatlantique SA acquired a new position in Quanta Services during the 4th quarter worth about $25,000. Cullen Frost Bankers Inc. acquired a new position in shares of Quanta Services during the first quarter worth approximately $25,000. Quarry LP bought a new stake in shares of Quanta Services during the fourth quarter valued at approximately $26,000. OLD Second National Bank of Aurora acquired a new stake in shares of Quanta Services in the first quarter valued at approximately $42,000. Finally, Sound Income Strategies LLC raised its position in Quanta Services by 77.9% in the 1st quarter. Sound Income Strategies LLC now owns 185 shares of the construction company's stock worth $47,000 after purchasing an additional 81 shares during the last quarter. Institutional investors own 90.49% of the company's stock.

Analyst Ratings Changes

PWR has been the topic of several analyst reports. DA Davidson increased their price objective on shares of Quanta Services from $295.00 to $305.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Argus set a $375.00 price target on Quanta Services in a research report on Monday, May 5th. BMO Capital Markets downgraded Quanta Services from an "outperform" rating to a "market perform" rating and upped their price objective for the company from $352.00 to $400.00 in a report on Thursday, July 17th. Sanford C. Bernstein lowered Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 target price on the stock. in a research note on Monday. Finally, Evercore ISI upped 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. Eleven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Quanta Services presently has an average rating of "Moderate Buy" and an average target price of $364.52.

Quanta Services Stock Performance

PWR stock traded down $10.25 during trading hours on Monday, reaching $411.43. The stock had a trading volume of 1,163,588 shares, compared to its average volume of 1,428,786. The stock has a 50-day simple moving average of $368.62 and a 200 day simple moving average of $315.86. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $424.94. The stock has a market capitalization of $61.00 billion, a PE ratio of 66.36, a price-to-earnings-growth ratio of 2.90 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 1.26.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share 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 firm had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.88 billion. During the same quarter in the previous year, the business earned $1.41 earnings per share. The business's revenue was up 23.9% compared to the same quarter last year. Analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

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

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.