Quanta Services, Inc. (NYSE:PWR) Shares Sold by WBI Investments LLC

WBI Investments LLC reduced its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 56.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,171 shares of the construction company's stock after selling 1,547 shares during the quarter. WBI Investments LLC's holdings in Quanta Services were worth $370,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Kestra Private Wealth Services LLC increased its position in shares of Quanta Services by 85.0% during the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company's stock valued at $1,502,000 after purchasing an additional 2,184 shares during the period. Allstate Corp acquired a new position in shares of Quanta Services during the 4th quarter valued at $1,357,000. SeaBridge Investment Advisors LLC acquired a new position in shares of Quanta Services during the 4th quarter valued at $1,754,000. Lebenthal Global Advisors LLC increased its position in shares of Quanta Services by 10.7% during the 4th quarter. Lebenthal Global Advisors LLC now owns 8,627 shares of the construction company's stock valued at $2,727,000 after purchasing an additional 832 shares during the period. Finally, Brighton Jones LLC acquired a new position in shares of Quanta Services during the 4th quarter valued at $298,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PWR shares. Truist Financial lowered their price target on Quanta Services from $398.00 to $324.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Stifel Nicolaus lifted their target price on Quanta Services from $306.00 to $363.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Piper Sandler set a $360.00 target price on Quanta Services and gave the stock an "overweight" rating in a report on Tuesday, May 6th. BMO Capital Markets set a $352.00 target price on Quanta Services in a report on Friday, May 2nd. Finally, B. Riley lifted their target price on Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $344.35.

Quanta Services Price Performance

PWR opened at $344.54 on Tuesday. The stock has a market cap of $51.08 billion, a price-to-earnings ratio of 57.14, a PEG ratio of 1.41 and a beta of 1.02. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $365.88. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The stock has a fifty day moving average price of $283.12 and a 200 day moving average price of $301.96.

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. The firm had revenue of $6.23 billion during 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 business's revenue for the quarter was up 23.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.41 earnings per share. Analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. Quanta Services's payout ratio is 6.45%.

Quanta Services 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.

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