Quanta Services, Inc. (NYSE:PWR) Position Reduced by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. lessened its position in Quanta Services, Inc. (NYSE:PWR) by 2.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,344 shares of the construction company’s stock after selling 194 shares during the period. Crossmark Global Holdings Inc.’s holdings in Quanta Services were worth $2,321,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Prestige Wealth Management Group LLC bought a new position in shares of Quanta Services during the 3rd quarter valued at about $30,000. Legacy Investment Solutions LLC acquired a new stake in Quanta Services during the third quarter valued at approximately $31,000. Versant Capital Management Inc boosted its holdings in Quanta Services by 62.5% during the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after buying an additional 45 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in Quanta Services in the third quarter worth approximately $41,000. Finally, Eastern Bank bought a new position in shares of Quanta Services in the third quarter valued at $44,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Trading Down 0.8 %

Shares of NYSE PWR opened at $354.52 on Friday. The business has a 50 day simple moving average of $330.71 and a 200 day simple moving average of $298.51. Quanta Services, Inc. has a 52 week low of $192.62 and a 52 week high of $365.88. The stock has a market cap of $52.33 billion, a price-to-earnings ratio of 65.41 and a beta of 1.06. 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 (NYSE:PWR) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the prior year, the business posted $2.08 EPS. Quanta Services’s quarterly revenue was up 15.5% on a year-over-year basis. On average, research analysts predict 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. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.11%. The ex-dividend date was Thursday, January 2nd. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio is 7.38%.

Wall Street Analysts Forecast Growth

PWR has been the subject of several research reports. Truist Financial reduced their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Robert W. Baird boosted their price objective on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. TD Cowen boosted their price target on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 price objective for the company. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $325.06.

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.