Quanta Services, Inc. (NYSE:PWR) Shares Sold by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC cut its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 59.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,707 shares of the construction company's stock after selling 62,863 shares during the period. Segall Bryant & Hamill LLC's holdings in Quanta Services were worth $10,855,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Quanta Services in the 4th quarter worth about $544,937,000. Capital World Investors boosted its stake in shares of Quanta Services by 14.1% during the fourth quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock valued at $2,282,978,000 after purchasing an additional 891,977 shares during the period. GAMMA Investing LLC raised its holdings in shares of Quanta Services by 22,475.0% during the first quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company's stock valued at $207,261,000 after acquiring an additional 811,797 shares in the last quarter. Bank of America Corp DE raised its holdings in Quanta Services by 42.8% in the fourth quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock worth $534,647,000 after purchasing an additional 506,722 shares in the last quarter. Finally, Voya Investment Management LLC increased its holdings in shares of Quanta Services by 210.8% during the fourth quarter. Voya Investment Management LLC now owns 550,598 shares of the construction company's stock valued at $174,016,000 after acquiring an additional 373,429 shares in the last quarter. Institutional investors own 90.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PWR shares. B. Riley lifted their price objective on Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Truist Financial lowered their target price on Quanta Services from $398.00 to $324.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Evercore ISI upped their target price on Quanta Services from $331.00 to $360.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. TD Cowen increased their price target on Quanta Services from $335.00 to $355.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Finally, BMO Capital Markets cut Quanta Services from an "outperform" rating to a "market perform" rating and increased their price target for the company from $352.00 to $400.00 in a report on Thursday. Ten analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Quanta Services has a consensus rating of "Moderate Buy" and an average price target of $355.75.

Quanta Services Stock Performance

PWR traded up $9.17 during midday trading on Thursday, reaching $398.29. The company had a trading volume of 1,000,126 shares, compared to its average volume of 1,045,272. The stock has a market cap of $59.05 billion, a PE ratio of 64.24, a P/E/G ratio of 3.03 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.26 and a current ratio of 1.31. The business has a 50-day moving average price of $360.62 and a two-hundred day moving average price of $312.29. 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 earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $5.88 billion. During the same period last year, the business earned $1.41 earnings per share. The business's revenue was up 23.9% on a year-over-year basis. On average, sell-side analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal 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 dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date was Tuesday, July 1st. Quanta Services's dividend payout ratio (DPR) is 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.