Quanta Services, Inc. (NYSE:PWR) Stock Position Cut by Princeton Capital Management LLC

Princeton Capital Management LLC reduced its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,701 shares of the construction company's stock after selling 918 shares during the period. Quanta Services accounts for approximately 2.1% of Princeton Capital Management LLC's investment portfolio, making the stock its 9th biggest position. Princeton Capital Management LLC's holdings in Quanta Services were worth $6,024,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PWR. Capital World Investors grew its stake in shares of Quanta Services by 14.1% in the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock valued at $2,282,978,000 after buying an additional 891,977 shares during the period. Geode Capital Management LLC grew its stake in shares of Quanta Services by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company's stock valued at $1,121,830,000 after buying an additional 99,416 shares during the period. Invesco Ltd. grew its stake in shares of Quanta Services by 3.7% in the 4th quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company's stock valued at $604,871,000 after buying an additional 68,565 shares during the period. Norges Bank acquired a new position in Quanta Services during the 4th quarter valued at about $544,937,000. Finally, Bank of America Corp DE boosted its stake in Quanta Services by 42.8% during the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock valued at $534,647,000 after purchasing an additional 506,722 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Price Performance

NYSE:PWR traded down $10.03 during midday trading on Monday, hitting $411.65. The company had a trading volume of 911,432 shares, compared to its average volume of 1,427,068. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $424.94. The stock's fifty day moving average price is $368.62 and its 200-day moving average price is $315.86. The company has a market capitalization of $61.03 billion, a PE ratio of 66.40, a P/E/G ratio of 2.90 and a beta of 1.08. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.58.

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, 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 the consensus estimate of $5.88 billion. During the same period in the prior year, the firm posted $1.41 earnings per share. The company's quarterly revenue was up 23.9% compared to the same quarter last year. As a group, research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PWR. Sanford C. Bernstein downgraded Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price target for the company. in a research note on Monday. Daiwa America upgraded Quanta Services from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 11th. Citigroup restated a "buy" rating on shares of Quanta Services in a research note on Monday. Truist Financial cut their target price on Quanta Services from $398.00 to $324.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Finally, TD Cowen boosted their target price on Quanta Services from $335.00 to $355.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Eleven equities research 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 stock. According to MarketBeat, Quanta Services presently has an average rating of "Moderate Buy" and an average price target of $364.52.

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.