Quanta Services, Inc. (NYSE:PWR) Shares Sold by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. lowered its stake in Quanta Services, Inc. (NYSE:PWR) by 1.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,874 shares of the construction company’s stock after selling 228 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Quanta Services were worth $5,560,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC acquired a new position in shares of Quanta Services during the fourth quarter worth $298,000. Guggenheim Capital LLC lifted its holdings in Quanta Services by 182.3% in the 4th quarter. Guggenheim Capital LLC now owns 5,700 shares of the construction company’s stock worth $1,801,000 after buying an additional 3,681 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Quanta Services by 66.1% in the 4th quarter. NewEdge Advisors LLC now owns 14,870 shares of the construction company’s stock worth $4,700,000 after buying an additional 5,918 shares in the last quarter. Farringdon Capital Ltd. purchased a new position in Quanta Services in the 4th quarter valued at about $340,000. Finally, CANADA LIFE ASSURANCE Co grew its stake in shares of Quanta Services by 14.3% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 107,512 shares of the construction company’s stock valued at $33,994,000 after acquiring an additional 13,417 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Up 0.6%

Shares of Quanta Services stock opened at $379.96 on Friday. The stock has a market capitalization of $56.62 billion, a price-to-earnings ratio of 58.82, a PEG ratio of 2.26 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. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The business’s 50 day simple moving average is $382.86 and its 200-day simple moving average is $322.64.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.04. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%. The company had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.55 billion. During the same period last year, the business posted $1.90 earnings per share. The firm’s quarterly revenue was up 21.1% compared to the same quarter last year. Equities research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st were paid a $0.10 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. Quanta Services’s dividend payout ratio (DPR) is presently 6.19%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PWR shares. Daiwa America cut Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 1st. Citigroup lifted their price objective on Quanta Services from $432.00 to $492.00 and gave the stock a “buy” rating in a report on Monday, July 28th. B. Riley increased their target price on Quanta Services from $300.00 to $355.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Piper Sandler restated an “overweight” rating and issued a $370.00 price target (up previously from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. Finally, BMO Capital Markets cut shares of Quanta Services from an “outperform” rating to a “market perform” rating and upped their price target for the company from $352.00 to $400.00 in a report on Thursday, July 17th. Twelve equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $392.45.

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.