Principal Financial Group Inc. Sells 5,852 Shares of Quanta Services, Inc. (NYSE:PWR)

Principal Financial Group Inc. lessened its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 2.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 195,827 shares of the construction company's stock after selling 5,852 shares during the period. Principal Financial Group Inc. owned 0.13% of Quanta Services worth $49,775,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mutual Advisors LLC boosted its holdings in shares of Quanta Services by 21.3% in the first quarter. Mutual Advisors LLC now owns 975 shares of the construction company's stock worth $248,000 after acquiring an additional 171 shares during the period. Teacher Retirement System of Texas boosted its stake in Quanta Services by 1,464.7% in the 1st quarter. Teacher Retirement System of Texas now owns 21,577 shares of the construction company's stock worth $5,484,000 after purchasing an additional 20,198 shares during the period. Novem Group bought a new position in Quanta Services in the 1st quarter worth about $218,000. Pinnacle Financial Partners Inc increased its position in shares of Quanta Services by 5.1% during the first quarter. Pinnacle Financial Partners Inc now owns 54,610 shares of the construction company's stock valued at $13,931,000 after buying an additional 2,671 shares during the period. Finally, Rossby Financial LCC purchased a new stake in shares of Quanta Services in the first quarter worth about $53,000. Institutional investors own 90.49% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Argus set a $375.00 target price on shares of Quanta Services in a report on Monday, May 5th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $414.00 price target (up previously from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. Northland Securities downgraded Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price objective on the stock. in a research report on Wednesday, July 2nd. DA Davidson boosted their target price on Quanta Services from $295.00 to $305.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Finally, Northland Capmk cut Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. Eight investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $350.95.

Quanta Services Trading Down 0.3%

Shares of PWR stock traded down $1.33 during mid-day trading on Monday, reaching $385.18. The stock had a trading volume of 839,632 shares, compared to its average volume of 1,478,778. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $388.00. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.58. The stock's 50-day moving average price is $347.47 and its two-hundred day moving average price is $308.41. The firm has a market capitalization of $57.11 billion, a PE ratio of 62.13, a price-to-earnings-growth ratio of 3.01 and a beta of 1.08.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, topping 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 business 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 posted $1.41 earnings per share. Quanta Services's quarterly revenue was up 23.9% compared to the same quarter last year. Equities analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.10%. The ex-dividend date of this dividend is Tuesday, July 1st. Quanta Services's payout ratio is currently 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.