Quanta Services, Inc. (NYSE:PWR) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado trimmed its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 92.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,520 shares of the construction company's stock after selling 185,009 shares during the period. Public Employees Retirement Association of Colorado's holdings in Quanta Services were worth $4,589,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Quanta Services in the 4th quarter worth about $544,937,000. Capital World Investors grew its stake in Quanta Services by 14.1% in the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock worth $2,282,978,000 after acquiring an additional 891,977 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Quanta Services during the fourth quarter worth approximately $203,068,000. Voya Investment Management LLC raised its stake 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. Finally, First Trust Advisors LP boosted its holdings in shares of Quanta Services by 54.1% in the fourth quarter. First Trust Advisors LP now owns 725,453 shares of the construction company's stock valued at $229,279,000 after purchasing an additional 254,640 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PWR shares. DA Davidson lifted their target price on Quanta Services from $295.00 to $305.00 and gave the company a "neutral" rating in a research report on Friday. Citigroup lowered their price objective on shares of Quanta Services from $366.00 to $342.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Daiwa America upgraded shares of Quanta Services from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. Truist Financial lowered their price target on shares of Quanta Services from $398.00 to $324.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Finally, B. Riley increased their price objective on shares of Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a research note on Friday. Six research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Quanta Services presently has an average rating of "Moderate Buy" and a consensus target price of $330.80.

Quanta Services Stock Performance

PWR stock traded down $0.89 during trading on Friday, reaching $321.04. The company had a trading volume of 2,062,545 shares, compared to its average volume of 1,651,828. The company has a market cap of $47.60 billion, a price-to-earnings ratio of 53.24, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. 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 twelve month low of $227.08 and a twelve month high of $365.88. The firm has a 50-day simple moving average of $264.93 and a 200-day simple moving average of $300.35.

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

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date was Thursday, April 3rd. Quanta Services's dividend payout ratio is presently 6.63%.

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.