Quanta Services, Inc. (NYSE:PWR) Shares Sold by Axa S.A.

Axa S.A. cut its holdings in Quanta Services, Inc. (NYSE:PWR) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,647 shares of the construction company’s stock after selling 2,429 shares during the period. Axa S.A. owned about 0.06% of Quanta Services worth $26,753,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Kestra Private Wealth Services LLC lifted its stake in Quanta Services by 85.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock worth $1,502,000 after purchasing an additional 2,184 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Quanta Services by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after buying an additional 11,012 shares during the last quarter. Allstate Corp acquired a new position in shares of Quanta Services in the 4th quarter valued at $1,357,000. Hennion & Walsh Asset Management Inc. grew its position in shares of Quanta Services by 4.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 17,573 shares of the construction company’s stock valued at $5,554,000 after buying an additional 793 shares during the last quarter. Finally, SeaBridge Investment Advisors LLC acquired a new stake in Quanta Services during the 4th quarter worth $1,754,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Performance

Shares of PWR opened at $321.04 on Monday. The company has a market capitalization of $47.60 billion, a PE ratio of 53.24, a P/E/G ratio of 1.41 and a beta of 1.04. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $365.88. The company has a 50-day simple moving average of $264.93 and a 200-day simple moving average of $300.18. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The company had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The company’s revenue for the quarter was up 23.9% on a year-over-year basis. During the same period last year, the firm earned $1.41 EPS. Equities research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PWR. Guggenheim started coverage on Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating on the stock. Roth Mkm assumed coverage on Quanta Services in a research note on Friday, February 21st. They issued a “buy” rating and a $350.00 price objective for the company. Daiwa Capital Markets lowered shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. B. Riley upped their price target on shares of Quanta Services from $300.00 to $355.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Daiwa America raised shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and a consensus price target of $330.80.

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.