Two Sigma Securities LLC Decreases Stock Position in Quanta Services, Inc. (NYSE:PWR)

Two Sigma Securities LLC trimmed its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 65.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 689 shares of the construction company's stock after selling 1,288 shares during the quarter. Two Sigma Securities LLC's holdings in Quanta Services were worth $218,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in Quanta Services in the 4th quarter worth $544,937,000. Capital World Investors boosted its position in Quanta Services by 14.1% during 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 purchasing an additional 891,977 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Quanta Services in the 4th quarter worth about $203,068,000. Voya Investment Management LLC grew its holdings in Quanta Services by 210.8% in the 4th quarter. Voya Investment Management LLC now owns 550,598 shares of the construction company's stock worth $174,016,000 after buying an additional 373,429 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Quanta Services by 54.1% during 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. Hedge funds and other institutional investors own 90.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Bank of America initiated coverage on Quanta Services in a research note on Friday, January 24th. They set a "buy" rating and a $407.00 price target for the company. Piper Sandler started coverage on shares of Quanta Services in a research report on Tuesday, April 8th. They set an "overweight" rating and a $286.00 price objective on the stock. The Goldman Sachs Group decreased their target price 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. BMO Capital Markets upgraded Quanta Services from a "market perform" rating to an "outperform" rating and dropped their price objective for the stock from $338.00 to $316.00 in a research note on Tuesday, February 25th. Finally, Guggenheim started coverage on shares of Quanta Services in a report on Wednesday, January 8th. They issued a "neutral" rating for the company. Six investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $330.80.

Quanta Services Stock Performance

Shares of PWR stock traded down $0.89 during trading on Friday, reaching $321.04. 2,062,545 shares of the company's stock were exchanged, compared to its average volume of 1,651,828. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $365.88. The firm's fifty day moving average price is $264.93 and its 200-day moving average price is $300.27. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $47.60 billion, a PE ratio of 53.24, a PEG ratio of 1.41 and a beta of 1.04.

Quanta Services (NYSE:PWR - Get Free Report) last posted 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%. Quanta Services's revenue was up 23.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.41 EPS. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

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