Sugarloaf Wealth Management LLC Cuts Holdings in Quanta Services, Inc. (NYSE:PWR)

Sugarloaf Wealth Management LLC lessened its stake in Quanta Services, Inc. (NYSE:PWR) by 6.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 11,636 shares of the construction company’s stock after selling 787 shares during the quarter. Sugarloaf Wealth Management LLC’s holdings in Quanta Services were worth $3,678,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PWR. State Street Corp grew its holdings in Quanta Services by 1.6% during the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock worth $1,713,956,000 after acquiring an additional 89,975 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Quanta Services by 1.4% during the third quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company’s stock worth $1,027,887,000 after purchasing an additional 46,357 shares in the last quarter. Electron Capital Partners LLC increased its holdings in Quanta Services by 395.1% in the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after buying an additional 2,092,519 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in 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 valued at $313,968,000 after buying an additional 186,306 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Quanta Services by 4.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company’s stock worth $316,055,000 after buying an additional 43,715 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Performance

Shares of PWR stock traded up $1.63 during mid-day trading on Friday, hitting $313.83. The stock had a trading volume of 388,094 shares, compared to its average volume of 842,076. The firm has a market cap of $46.33 billion, a PE ratio of 57.90 and a beta of 1.06. The company’s 50-day simple moving average is $328.05 and its 200-day simple moving average is $293.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. Quanta Services, Inc. has a fifty-two week low of $187.27 and a fifty-two week high of $350.19.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm’s revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.08 earnings per share. Sell-side analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be given a $0.10 dividend. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.40 annualized dividend and a yield of 0.13%. Quanta Services’s dividend payout ratio is presently 7.38%.

Wall Street Analyst Weigh In

PWR has been the topic of several research analyst reports. JPMorgan Chase & Co. started coverage on Quanta Services in a research report on Monday, October 7th. They set a “neutral” rating and a $297.00 target price on the stock. Citigroup boosted their price objective on shares of Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Northland Securities reaffirmed an “outperform” rating and issued a $328.00 target price (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Guggenheim assumed coverage on shares of Quanta Services in a research report on Wednesday. They issued a “neutral” rating for the company. Finally, Daiwa Capital Markets started coverage on Quanta Services in a report on Friday, December 6th. They set an “outperform” rating and a $355.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and an average price target of $324.25.

Quanta Services 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.