Sherbrooke Park Advisers LLC Trims Stock Position in Quanta Services, Inc. (NYSE:PWR)

Sherbrooke Park Advisers LLC lowered its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 45.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,497 shares of the construction company's stock after selling 1,241 shares during the period. Sherbrooke Park Advisers LLC's holdings in Quanta Services were worth $473,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Rafferty Asset Management LLC grew its holdings in shares of Quanta Services by 8.5% in the fourth quarter. Rafferty Asset Management LLC now owns 14,650 shares of the construction company's stock worth $4,630,000 after purchasing an additional 1,144 shares during the last quarter. Raiffeisen Bank International AG acquired a new position in Quanta Services during the 4th quarter valued at about $27,640,000. ProShare Advisors LLC lifted its stake in shares of Quanta Services by 14.5% during the fourth quarter. ProShare Advisors LLC now owns 21,370 shares of the construction company's stock worth $6,754,000 after buying an additional 2,703 shares during the period. Quantinno Capital Management LP lifted its stake in Quanta Services by 8.1% during the 4th quarter. Quantinno Capital Management LP now owns 11,817 shares of the construction company's stock valued at $3,735,000 after acquiring an additional 890 shares during the period. Finally, Mufg Securities Americas Inc. purchased a new position in shares of Quanta Services during the 4th quarter valued at about $689,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Stock Performance

Shares of PWR stock traded up $2.52 during mid-day trading on Friday, hitting $333.35. 334,328 shares of the stock were exchanged, compared to its average volume of 1,576,184. The stock's fifty day simple moving average is $287.86 and its two-hundred day simple moving average is $302.71. The stock has a market capitalization of $49.42 billion, a price-to-earnings ratio of 55.28, a P/E/G ratio of 1.41 and a beta of 1.02. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $365.88.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.06. The business had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The company's revenue was up 23.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.41 earnings per share. On average, analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.12%. Quanta Services's payout ratio is currently 6.45%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Daiwa America upgraded shares of Quanta Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Daiwa Capital Markets cut shares of Quanta Services from an "outperform" rating to a "neutral" rating in a research report on Monday, February 24th. Roth Mkm started coverage on Quanta Services in a research note on Friday, February 21st. They set a "buy" rating and a $350.00 price objective on the stock. The Goldman Sachs Group cut their price objective on Quanta Services from $418.00 to $364.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, Piper Sandler set a $360.00 price target on Quanta Services and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Six analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Quanta Services presently has an average rating of "Moderate Buy" and a consensus price target of $344.35.

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.