Thoroughbred Financial Services LLC Lowers Holdings in Quanta Services, Inc. (NYSE:PWR)

Thoroughbred Financial Services LLC reduced its position in shares of Quanta Services, Inc. (NYSE:PWR) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,623 shares of the construction company’s stock after selling 44 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Quanta Services were worth $512,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on PWR shares. Guggenheim initiated coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating for the company. BMO Capital Markets raised Quanta Services from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $338.00 to $316.00 in a research note on Tuesday, February 25th. Daiwa Capital Markets lowered Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Daiwa America downgraded Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. Finally, B. Riley reissued a “neutral” rating and issued a $300.00 price target (down from $343.00) on shares of Quanta Services in a research note on Wednesday, March 19th. Seven investment 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $326.79.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $239.50 on Friday. The business has a 50-day simple moving average of $273.15 and a 200-day simple moving average of $304.21. The company has a market cap of $35.49 billion, a PE ratio of 39.72, a P/E/G 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 debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. The company had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. On average, equities research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.17%. Quanta Services’s dividend payout ratio is currently 6.63%.

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.