Marshall Wace LLP Reduces Stock Position in Quanta Services, Inc. (NYSE:PWR)

Marshall Wace LLP lowered its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 81.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,457 shares of the construction company's stock after selling 28,117 shares during the period. Marshall Wace LLP's holdings in Quanta Services were worth $2,041,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. MSH Capital Advisors LLC purchased a new stake in Quanta Services in the fourth quarter worth $272,000. NewEdge Advisors LLC increased its holdings in Quanta Services by 66.1% in the 4th quarter. NewEdge Advisors LLC now owns 14,870 shares of the construction company's stock worth $4,700,000 after acquiring an additional 5,918 shares during the last quarter. Insigneo Advisory Services LLC raised its stake in Quanta Services by 8.7% in the 4th quarter. Insigneo Advisory Services LLC now owns 1,670 shares of the construction company's stock valued at $528,000 after acquiring an additional 134 shares during the period. United Capital Financial Advisors LLC lifted its holdings in Quanta Services by 5.7% during the fourth quarter. United Capital Financial Advisors LLC now owns 7,882 shares of the construction company's stock valued at $2,491,000 after purchasing an additional 422 shares during the last quarter. Finally, Jump Financial LLC bought a new position in Quanta Services during the fourth quarter worth about $3,452,000. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Price Performance

Shares of PWR stock traded up $2.35 during trading hours on Friday, hitting $324.28. 650,071 shares of the company's stock were exchanged, compared to its average volume of 1,634,168. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $365.88. The company has a market capitalization of $48.08 billion, a PE ratio of 53.78, a PEG ratio of 1.41 and a beta of 1.04. The business's 50 day simple moving average is $263.79 and its 200-day simple moving average is $300.24. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR - Get Free Report) last issued its 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. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The company had revenue of $6.23 billion for the quarter, compared to analysts' expectations of $5.88 billion. During the same quarter last year, the company earned $1.41 EPS. The firm's revenue was up 23.9% compared to the same quarter last year. On average, equities research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors 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 6.63%.

Analysts Set New Price Targets

A number of brokerages recently commented on PWR. Daiwa Capital Markets cut shares of Quanta Services from an "outperform" rating to a "neutral" rating in a research note on Monday, February 24th. JPMorgan Chase & Co. increased their target price on Quanta Services from $297.00 to $323.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Guggenheim started coverage on Quanta Services in a research report on Wednesday, January 8th. They issued a "neutral" rating for the company. Citigroup dropped their price objective on Quanta Services from $366.00 to $342.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Finally, Truist Financial reduced their target price on Quanta Services from $398.00 to $324.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Six research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $325.30.

Quanta Services Company 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.