Federated Hermes Inc. Sells 13,859 Shares of Quanta Services, Inc. (NYSE:PWR)

Federated Hermes Inc. cut its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 616,883 shares of the construction company’s stock after selling 13,859 shares during the period. Federated Hermes Inc. owned about 0.42% of Quanta Services worth $194,966,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Paloma Partners Management Co boosted its holdings in Quanta Services by 139.3% during the third quarter. Paloma Partners Management Co now owns 682 shares of the construction company’s stock worth $203,000 after purchasing an additional 397 shares during the last quarter. Benjamin Edwards Inc. bought a new position in shares of Quanta Services during the 3rd quarter worth approximately $511,000. Janus Henderson Group PLC boosted its stake in shares of Quanta Services by 4.9% in the 3rd quarter. Janus Henderson Group PLC now owns 17,221 shares of the construction company’s stock worth $5,134,000 after buying an additional 800 shares during the last quarter. IHT Wealth Management LLC grew its holdings in shares of Quanta Services by 2.7% in the third quarter. IHT Wealth Management LLC now owns 1,816 shares of the construction company’s stock valued at $541,000 after acquiring an additional 47 shares in the last quarter. Finally, Royal London Asset Management Ltd. lifted its holdings in Quanta Services by 4.2% during the third quarter. Royal London Asset Management Ltd. now owns 59,723 shares of the construction company’s stock worth $17,801,000 after acquiring an additional 2,415 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Stifel Nicolaus reduced their price objective on Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a research note on Monday, February 24th. BMO Capital Markets upgraded shares of Quanta Services from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $338.00 to $316.00 in a research report on Tuesday, February 25th. Daiwa America lowered shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. B. Riley reiterated a “neutral” rating and issued a $300.00 target price (down from $343.00) on shares of Quanta Services in a research note on Wednesday, March 19th. Finally, Roth Mkm assumed coverage on shares of Quanta Services in a research note on Friday, February 21st. They set a “buy” rating and a $350.00 price target for the company. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $326.79.

Quanta Services Stock Down 5.0 %

PWR opened at $239.50 on Friday. The firm has a market capitalization of $35.49 billion, a P/E ratio of 39.72, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. Quanta Services, Inc. has a one year low of $227.11 and a one year high of $365.88. The company has a fifty day moving average price of $273.15 and a 200-day moving average price of $304.21. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping 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 business had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.61 billion. Equities research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The business also recently announced 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. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.17%. Quanta Services’s payout ratio is presently 6.63%.

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.