Cookson Peirce & Co. Inc. Reduces Stake in Quanta Services, Inc. (NYSE:PWR)

Cookson Peirce & Co. Inc. lowered its stake in Quanta Services, Inc. (NYSE:PWRFree Report) by 97.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,376 shares of the construction company’s stock after selling 369,974 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Quanta Services were worth $2,129,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PWR. Brighton Jones LLC purchased a new position in Quanta Services in the fourth quarter worth about $298,000. Sagespring Wealth Partners LLC purchased a new position in Quanta Services in the fourth quarter worth about $212,000. Advisors Capital Management LLC purchased a new position in Quanta Services in the fourth quarter worth about $318,000. Mariner LLC grew its position in Quanta Services by 26.6% in the fourth quarter. Mariner LLC now owns 35,216 shares of the construction company’s stock worth $11,130,000 after acquiring an additional 7,392 shares in the last quarter. Finally, Guggenheim Capital LLC grew its position in Quanta Services by 182.3% in the fourth quarter. Guggenheim Capital LLC now owns 5,700 shares of the construction company’s stock worth $1,801,000 after acquiring an additional 3,681 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. TD Cowen boosted their target price on Quanta Services from $355.00 to $425.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. The Goldman Sachs Group reissued a “buy” rating and set a $414.00 price target (up from $364.00) on shares of Quanta Services in a research note on Wednesday, June 4th. DA Davidson raised their price target on Quanta Services from $305.00 to $395.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Argus set a $375.00 price target on Quanta Services in a research note on Monday, May 5th. Finally, Seaport Res Ptn raised Quanta Services to a “hold” rating in a research note on Thursday, July 10th. Twelve investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $392.45.

Read Our Latest Stock Analysis on Quanta Services

Quanta Services Stock Down 2.9%

Quanta Services stock opened at $380.25 on Thursday. The business has a fifty day moving average of $382.12 and a two-hundred day moving average of $321.29. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. The firm has a market cap of $56.66 billion, a P/E ratio of 58.86, a P/E/G ratio of 2.33 and a beta of 1.10. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $424.94.

Quanta Services (NYSE:PWRGet Free Report) last posted its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.04. The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%. Quanta Services’s revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.90 earnings per share. On average, analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services’s dividend payout ratio is presently 6.19%.

Quanta Services Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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