Quanta Services, Inc. (NYSE:PWR) Shares Sold by Old Port Advisors

Old Port Advisors decreased its holdings in Quanta Services, Inc. (NYSE:PWR) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,917 shares of the construction company’s stock after selling 36 shares during the quarter. Old Port Advisors’ holdings in Quanta Services were worth $1,238,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PWR. Electron Capital Partners LLC grew its holdings in shares of Quanta Services by 395.1% in the 2nd quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock worth $666,260,000 after acquiring an additional 2,092,519 shares during the last quarter. American Century Companies Inc. raised its holdings in Quanta Services by 1,445.3% during the 2nd quarter. American Century Companies Inc. now owns 395,152 shares of the construction company’s stock worth $100,404,000 after buying an additional 369,581 shares during the period. Alkeon Capital Management LLC lifted its stake in Quanta Services by 62.5% during the third quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock valued at $193,798,000 after buying 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% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock worth $313,968,000 after buying an additional 186,306 shares during the period. Finally, National Bank of Canada FI increased its position in shares of Quanta Services by 297.3% in the second quarter. National Bank of Canada FI now owns 215,914 shares of the construction company’s stock worth $53,455,000 after acquiring an additional 161,574 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Down 0.4 %

NYSE:PWR traded down $1.11 during trading hours on Thursday, reaching $314.84. The company’s stock had a trading volume of 226,430 shares, compared to its average volume of 903,277. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The company has a market cap of $46.47 billion, a price-to-earnings ratio of 58.09 and a beta of 1.03. Quanta Services, Inc. has a one year low of $187.27 and a one year high of $350.19. The business’s 50-day moving average is $326.93 and its 200-day moving average is $291.96.

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

Quanta Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be given a $0.10 dividend. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.13%. Quanta Services’s dividend payout ratio (DPR) is currently 7.38%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PWR shares. Robert W. Baird upped their price target on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Citigroup raised their target price on Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Jefferies Financial Group began coverage on Quanta Services in a research report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price target on the stock. Wolfe Research started coverage on Quanta Services in a research report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price objective for the company. Finally, Truist Financial upped their target price on Quanta Services from $358.00 to $399.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.