Monarch Capital Management Inc. Has $5.87 Million Holdings in Quanta Services, Inc. (NYSE:PWR)

Monarch Capital Management Inc. cut its stake in Quanta Services, Inc. (NYSE:PWR) by 3.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,076 shares of the construction company’s stock after selling 944 shares during the period. Quanta Services accounts for about 1.6% of Monarch Capital Management Inc.’s investment portfolio, making the stock its 22nd biggest position. Monarch Capital Management Inc.’s holdings in Quanta Services were worth $5,865,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of PWR. Banque Transatlantique SA bought a new stake in shares of Quanta Services during the fourth quarter worth approximately $25,000. Quarry LP bought a new stake in shares of Quanta Services during the fourth quarter worth approximately $26,000. Sierra Ocean LLC bought a new stake in shares of Quanta Services during the fourth quarter worth approximately $27,000. Centricity Wealth Management LLC bought a new stake in Quanta Services in the fourth quarter valued at approximately $34,000. Finally, Rakuten Securities Inc. increased its stake in Quanta Services by 1,027.3% in the fourth quarter. Rakuten Securities Inc. now owns 124 shares of the construction company’s stock valued at $39,000 after purchasing an additional 113 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Down 2.0%

NYSE:PWR opened at $348.37 on Wednesday. The company has a market cap of $51.65 billion, a PE ratio of 57.77, a P/E/G ratio of 1.41 and a beta of 1.07. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $365.88. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The firm’s 50 day simple moving average is $309.76 and its 200 day simple moving average is $304.40.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The company had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.88 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. Quanta Services’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.41 EPS. On average, research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be paid a $0.10 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.11%. Quanta Services’s payout ratio is 6.45%.

Analysts Set New Price Targets

Several equities research analysts have commented on PWR shares. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Stifel Nicolaus increased their price objective on shares of Quanta Services from $306.00 to $363.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Argus set a $375.00 price objective on shares of Quanta Services in a research report on Monday, May 5th. Roth Mkm started coverage on shares of Quanta Services in a research report on Friday, February 21st. They set a “buy” rating and a $350.00 price objective for the company. Finally, TD Cowen increased their price target on shares of Quanta Services from $335.00 to $355.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Six investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and a consensus target price of $347.35.

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.