Investment Management Corp of Ontario Trims Holdings in Quanta Services, Inc. (NYSE:PWR)

Investment Management Corp of Ontario reduced its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 16.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,080 shares of the construction company's stock after selling 800 shares during the quarter. Investment Management Corp of Ontario's holdings in Quanta Services were worth $1,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Hudson Bay Capital Management LP purchased a new stake in Quanta Services during the 4th quarter valued at about $2,215,000. Guardian Wealth Advisors LLC NC raised its stake in Quanta Services by 15.4% in the fourth quarter. Guardian Wealth Advisors LLC NC now owns 6,667 shares of the construction company's stock worth $2,107,000 after buying an additional 889 shares in the last quarter. Gotham Asset Management LLC grew its holdings in shares of Quanta Services by 23.2% during the 4th quarter. Gotham Asset Management LLC now owns 16,451 shares of the construction company's stock worth $5,199,000 after acquiring an additional 3,095 shares during the period. Greenvale Capital LLP purchased a new position in Quanta Services during the fourth quarter valued at $50,568,000. Finally, Focus Partners Wealth grew its holdings in Quanta Services by 36.9% in the fourth quarter. Focus Partners Wealth now owns 26,454 shares of the construction company's stock worth $8,361,000 after purchasing an additional 7,133 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Price Performance

Shares of NYSE:PWR traded up $4.55 during trading on Friday, hitting $344.92. 1,070,444 shares of the company's stock were exchanged, compared to its average volume of 1,611,328. The business's 50-day simple moving average is $279.25 and its 200 day simple moving average is $301.53. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $365.88. The company has a market cap of $51.14 billion, a price-to-earnings ratio of 57.20, a PEG ratio of 1.41 and a beta of 1.02.

Quanta Services (NYSE:PWR - Get Free Report) last released its earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. The firm had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.88 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The company's quarterly revenue was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.41 earnings per share. As a group, equities analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

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

Analysts Set New Price Targets

PWR has been the topic of several analyst reports. Daiwa Capital Markets cut Quanta Services from an "outperform" rating to a "neutral" rating in a research report on Monday, February 24th. Truist Financial reduced their price objective on Quanta Services from $398.00 to $324.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. TD Cowen raised their price target on shares of Quanta Services from $335.00 to $355.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Evercore ISI boosted their price objective on shares of Quanta Services from $331.00 to $360.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, The Goldman Sachs Group cut their target price on shares of Quanta Services from $418.00 to $364.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Six equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Quanta Services has an average rating of "Moderate Buy" and an average target price 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.