Quanta Services, Inc. (NYSE:PWR) Shares Sold by Saxon Interests Inc.

Saxon Interests Inc. trimmed its position in Quanta Services, Inc. (NYSE:PWR) by 15.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 4,541 shares of the construction company’s stock after selling 821 shares during the period. Saxon Interests Inc.’s holdings in Quanta Services were worth $1,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PWR. Electron Capital Partners LLC grew its stake in Quanta Services by 395.1% during the 2nd quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after purchasing an additional 2,092,519 shares during the last quarter. Alkeon Capital Management LLC boosted its position in Quanta Services by 62.5% in 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 during the last quarter. Public Sector Pension Investment Board increased its holdings in Quanta Services by 4,701.7% in the 2nd quarter. Public Sector Pension Investment Board now owns 153,559 shares of the construction company’s stock worth $39,018,000 after buying an additional 150,361 shares during the period. International Assets Investment Management LLC raised its position in Quanta Services by 29,655.3% during the 3rd 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 during the last quarter. Finally, Meitav Investment House Ltd. acquired a new stake in Quanta Services during the 3rd quarter valued at approximately $27,430,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 2.0 %

Shares of PWR opened at $335.92 on Friday. Quanta Services, Inc. has a 52-week low of $187.27 and a 52-week high of $350.19. The stock has a market cap of $49.59 billion, a PE ratio of 61.98 and a beta of 1.06. The firm’s fifty day moving average is $329.23 and its two-hundred day moving average is $295.52. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter in the prior year, the company earned $2.08 EPS. Quanta Services’s revenue was up 15.5% compared to the same quarter last year. Research 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 announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were issued a $0.10 dividend. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 0.12%. The ex-dividend date was Thursday, January 2nd. Quanta Services’s dividend payout ratio is presently 7.38%.

Analyst Ratings Changes

PWR has been the subject of several recent research reports. Stifel Nicolaus raised their target price on shares of Quanta Services from $343.00 to $374.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Wolfe Research began coverage on Quanta Services in a research note on Thursday, September 19th. They set an “outperform” rating and a $313.00 price objective for the company. Truist Financial dropped their target price on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday. TD Cowen boosted their price target on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, Citigroup upped their price objective on Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $324.19.

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.