Polar Asset Management Partners Inc. Trims Position in Quanta Services, Inc. (NYSE:PWR)

Polar Asset Management Partners Inc. decreased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 40.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 10,159 shares of the construction company’s stock after selling 6,900 shares during the period. Polar Asset Management Partners Inc.’s holdings in Quanta Services were worth $3,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in PWR. ProShare Advisors LLC boosted its position in shares of Quanta Services by 14.5% during the 4th quarter. ProShare Advisors LLC now owns 21,370 shares of the construction company’s stock valued at $6,754,000 after acquiring an additional 2,703 shares during the last quarter. Quantinno Capital Management LP raised its holdings in Quanta Services by 8.1% in the 4th quarter. Quantinno Capital Management LP now owns 11,817 shares of the construction company’s stock valued at $3,735,000 after buying an additional 890 shares during the period. Mufg Securities Americas Inc. purchased a new stake in Quanta Services during the fourth quarter worth about $689,000. Nissay Asset Management Corp Japan ADV increased its stake in Quanta Services by 36.4% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 24,043 shares of the construction company’s stock worth $7,769,000 after purchasing an additional 6,417 shares during the period. Finally, Nomura Holdings Inc. purchased a new stake in Quanta Services during the fourth quarter worth about $5,368,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

PWR has been the topic of a number of recent research reports. Evercore ISI boosted their price target on shares of Quanta Services from $331.00 to $360.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. JPMorgan Chase & Co. boosted their price target on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. B. Riley boosted their price target on shares of Quanta Services from $300.00 to $355.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Truist Financial cut their target price on shares of Quanta Services from $398.00 to $324.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Finally, Stifel Nicolaus upped their target price on shares of Quanta Services from $306.00 to $363.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $344.35.

Quanta Services Price Performance

Quanta Services stock opened at $340.24 on Friday. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $365.88. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The business has a fifty day moving average of $279.25 and a two-hundred day moving average of $301.53. The company has a market cap of $50.45 billion, a P/E ratio of 56.42, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The company had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. During the same quarter last year, the company earned $1.41 earnings per share. Quanta Services’s quarterly revenue was up 23.9% compared to the same quarter last year. As a group, 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 paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend was Thursday, April 3rd. Quanta Services’s dividend payout ratio (DPR) is presently 6.45%.

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.