Sei Investments Co. Lowers Holdings in Quanta Services, Inc. (NYSE:PWR)

Sei Investments Co. reduced its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 4.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 340,543 shares of the construction company’s stock after selling 14,250 shares during the period. Sei Investments Co. owned about 0.23% of Quanta Services worth $107,628,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Webster Bank N. A. boosted its holdings in Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after purchasing an additional 81 shares during the period. Sierra Ocean LLC acquired a new stake in Quanta Services in the 4th quarter valued at about $27,000. Legacy Investment Solutions LLC purchased a new position in shares of Quanta Services in the 3rd quarter valued at about $31,000. Prestige Wealth Management Group LLC acquired a new position in shares of Quanta Services during the third quarter worth about $30,000. Finally, Sound Income Strategies LLC increased its stake 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 worth $33,000 after buying an additional 91 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

NYSE PWR opened at $268.43 on Friday. The firm has a market cap of $39.78 billion, a P/E ratio of 44.52, a P/E/G ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a 52-week low of $227.11 and a 52-week high of $365.88. The business’s 50-day moving average price is $289.30 and its 200 day moving average price is $304.27. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The company had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. On average, equities research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.15%. Quanta Services’s payout ratio is currently 6.63%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Truist Financial lowered their price target on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a report on Thursday, January 16th. B. Riley reissued a “neutral” rating and issued a $300.00 target price (down previously from $343.00) on shares of Quanta Services in a report on Wednesday. Roth Capital raised Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Citigroup dropped their price objective on Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Finally, Daiwa America cut Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $326.79.

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.