Quanta Services, Inc. (NYSE:PWR) Shares Sold by Meridian Financial Partners LLC

Meridian Financial Partners LLC lowered its position in Quanta Services, Inc. (NYSE:PWR) by 4.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,536 shares of the construction company’s stock after selling 124 shares during the period. Meridian Financial Partners LLC’s holdings in Quanta Services were worth $802,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PWR. Electron Capital Partners LLC lifted its stake in shares of Quanta Services by 395.1% in the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock worth $666,260,000 after buying an additional 2,092,519 shares in the last quarter. Alkeon Capital Management LLC lifted its stake in Quanta Services by 62.5% in the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock worth $193,798,000 after purchasing an additional 250,000 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Quanta Services by 17.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock worth $313,968,000 after purchasing an additional 186,306 shares during the last quarter. Public Sector Pension Investment Board grew its position in shares of Quanta Services by 4,701.7% in the second quarter. Public Sector Pension Investment Board now owns 153,559 shares of the construction company’s stock valued at $39,018,000 after purchasing an additional 150,361 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in Quanta Services by 29,655.3% during the third quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company’s stock worth $44,269,000 after buying an additional 147,980 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Up 1.6 %

Shares of PWR opened at $319.22 on Wednesday. The company’s 50-day simple moving average is $328.56 and its 200-day simple moving average is $295.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. Quanta Services, Inc. has a 1 year low of $187.27 and a 1 year high of $350.19. The stock has a market capitalization of $47.12 billion, a PE ratio of 58.90 and a beta of 1.06.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.08 EPS. Analysts forecast that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were issued a dividend of $0.10 per share. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.40 annualized dividend and a yield of 0.13%. Quanta Services’s dividend payout ratio is 7.38%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PWR shares. Guggenheim initiated coverage on Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating for the company. Citigroup raised their price objective on shares of Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Wolfe Research assumed coverage on shares of Quanta Services in a research note on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price target for the company. Truist Financial lifted their price target on shares of Quanta Services from $358.00 to $399.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, Daiwa Capital Markets started coverage on Quanta Services in a research report on Friday, December 6th. They issued an “outperform” rating and a $355.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and a consensus target price of $324.25.

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.