Stack Financial Management Inc lowered its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 26.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 136,342 shares of the construction company's stock after selling 48,983 shares during the period. Quanta Services accounts for 2.9% of Stack Financial Management Inc's investment portfolio, making the stock its 8th biggest holding. Stack Financial Management Inc owned approximately 0.09% of Quanta Services worth $34,655,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently modified their holdings of PWR. Banque Transatlantique SA purchased a new stake in shares of Quanta Services during the 4th quarter worth approximately $25,000. Quarry LP purchased a new position in Quanta Services in the 4th quarter valued at approximately $26,000. OLD Second National Bank of Aurora purchased a new position in Quanta Services in the 1st quarter valued at approximately $42,000. Sound Income Strategies LLC grew its stake in Quanta Services by 77.9% in the 1st 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 in the last quarter. Finally, Rossby Financial LCC purchased a new position in Quanta Services in the 1st quarter valued at approximately $53,000. Hedge funds and other institutional investors own 90.49% of the company's stock.
Analyst Ratings Changes
A number of research analysts recently weighed in on PWR shares. Northland Capmk lowered shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. Citigroup cut their price target on shares of Quanta Services from $366.00 to $342.00 and set a "buy" rating for the company in a report on Friday, April 25th. Wall Street Zen raised shares of Quanta Services from a "hold" rating to a "buy" rating in a report on Friday, June 27th. Seaport Res Ptn raised shares of Quanta Services to a "hold" rating in a report on Thursday, July 10th. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $414.00 price target (up from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. Ten analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Quanta Services has an average rating of "Moderate Buy" and a consensus target price of $355.75.
Read Our Latest Stock Analysis on Quanta Services
Quanta Services Trading Up 2.4%
Quanta Services stock traded up $9.17 during mid-day trading on Thursday, hitting $398.29. The company's stock had a trading volume of 1,000,126 shares, compared to its average volume of 1,441,404. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 1.26. The stock has a market cap of $59.05 billion, a price-to-earnings ratio of 64.24, a price-to-earnings-growth ratio of 3.01 and a beta of 1.08. The business has a 50 day moving average price of $359.19 and a 200-day moving average price of $311.74. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $398.61.
Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data 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. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The firm had revenue of $6.23 billion for the quarter, compared to analysts' expectations of $5.88 billion. During the same quarter in the previous year, the company earned $1.41 earnings per share. The company's revenue for the quarter was up 23.9% compared to the same quarter last year. As a group, analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.
Quanta Services Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date of this dividend was Tuesday, July 1st. Quanta Services's payout ratio is 6.45%.
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.
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