Quanta Services, Inc. (NYSE:PWR) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC cut its position in shares of Quanta Services, Inc. (NYSE:PWR) by 19.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 9,996 shares of the construction company’s stock after selling 2,431 shares during the period. Exchange Traded Concepts LLC’s holdings in Quanta Services were worth $3,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the business. Zweig DiMenna Associates LLC grew its position in shares of Quanta Services by 21.5% during the 4th quarter. Zweig DiMenna Associates LLC now owns 87,600 shares of the construction company’s stock valued at $27,686,000 after buying an additional 15,494 shares during the last quarter. Sound Income Strategies LLC grew its holdings in shares of Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after purchasing an additional 91 shares during the last quarter. Brighton Jones LLC acquired a new stake in shares of Quanta Services during the 4th quarter worth approximately $298,000. Whalen Wealth Management Inc. acquired a new position in Quanta Services during the 4th quarter valued at approximately $544,000. Finally, Teamwork Financial Advisors LLC bought a new position in Quanta Services during the 4th quarter worth $2,961,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $357.55 on Friday. 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 stock has a market capitalization of $52.78 billion, a P/E ratio of 65.97 and a beta of 1.06. The business has a 50-day moving average of $332.01 and a two-hundred day moving average of $299.93. Quanta Services, Inc. has a fifty-two week low of $193.50 and a fifty-two week high of $365.88.

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

Quanta Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.11%. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, January 2nd. Quanta Services’s dividend payout ratio is 7.38%.

Wall Street Analyst Weigh In

PWR has been the subject of several recent research reports. Bank of America assumed coverage on shares of Quanta Services in a research report on Friday. They set a “buy” rating and a $407.00 price target for the company. Truist Financial dropped their price target on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Stifel Nicolaus boosted their price objective on Quanta Services from $374.00 to $388.00 and gave the stock a “buy” rating in a research report on Wednesday. Northland Securities reaffirmed an “outperform” rating and set a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Finally, Daiwa America raised Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and a consensus price target of $329.88.

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.