Quanta Services, Inc. (NYSE:PWR) Shares Sold by Forum Financial Management LP

Forum Financial Management LP trimmed its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 16.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,203 shares of the construction company’s stock after selling 636 shares during the quarter. Forum Financial Management LP’s holdings in Quanta Services were worth $814,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Banque Transatlantique SA purchased a new position in Quanta Services during the 4th quarter worth approximately $25,000. Cullen Frost Bankers Inc. acquired a new position in shares of Quanta Services during the first quarter valued at about $25,000. Quarry LP acquired a new position in Quanta Services in the fourth quarter worth about $26,000. OLD Second National Bank of Aurora acquired a new stake in shares of Quanta Services during the first quarter worth approximately $42,000. Finally, Sound Income Strategies LLC grew its stake in shares of Quanta Services by 77.9% during the first quarter. Sound Income Strategies LLC now owns 185 shares of the construction company’s stock valued at $47,000 after purchasing an additional 81 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Performance

NYSE:PWR opened at $398.29 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. The company has a fifty day simple moving average of $360.62 and a two-hundred day simple moving average of $312.29. The company has a market cap of $59.05 billion, a price-to-earnings ratio of 64.24, a price-to-earnings-growth ratio of 3.03 and a beta of 1.08. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $398.61.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The business had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. During the same quarter in the prior year, the firm earned $1.41 earnings per share. The business’s quarterly revenue was up 23.9% compared to the same quarter last year. As a group, equities analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.10%. The ex-dividend date was Tuesday, July 1st. Quanta Services’s dividend payout ratio (DPR) is 6.45%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PWR shares. DA Davidson increased their target price on shares of Quanta Services from $295.00 to $305.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Stifel Nicolaus set a $411.00 target price on shares of Quanta Services and gave the stock a “buy” rating in a report on Friday, July 11th. Wall Street Zen raised Quanta Services from a “hold” rating to a “buy” rating in a report on Friday, June 27th. Piper Sandler restated an “overweight” rating and set a $370.00 price objective (up from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $414.00 price objective (up from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. Ten analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $355.75.

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.