Quanta Services, Inc. (NYSE:PWR) Shares Sold by Sherbrooke Park Advisers LLC

Sherbrooke Park Advisers LLC decreased its holdings in Quanta Services, Inc. (NYSE:PWR) by 45.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,497 shares of the construction company’s stock after selling 1,241 shares during the quarter. Sherbrooke Park Advisers LLC’s holdings in Quanta Services were worth $473,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PWR. Norges Bank purchased a new stake in shares of Quanta Services during the 4th quarter worth about $544,937,000. Capital World Investors grew its holdings in shares of Quanta Services by 14.1% during the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company’s stock worth $2,282,978,000 after purchasing an additional 891,977 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Quanta Services during the 4th quarter worth about $203,068,000. Bank of America Corp DE grew its holdings in shares of Quanta Services by 42.8% during the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company’s stock worth $534,647,000 after purchasing an additional 506,722 shares during the period. Finally, Voya Investment Management LLC grew its holdings in shares of Quanta Services by 210.8% during the 4th quarter. Voya Investment Management LLC now owns 550,598 shares of the construction company’s stock worth $174,016,000 after purchasing an additional 373,429 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of PWR opened at $344.92 on Friday. The business’s 50 day moving average is $281.22 and its two-hundred day moving average is $301.67. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $365.88. The firm has a market cap of $51.14 billion, a price-to-earnings ratio of 57.20, a PEG ratio of 1.41 and a beta of 1.02. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

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

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. The ex-dividend date was Thursday, April 3rd. Quanta Services’s dividend payout ratio is currently 6.45%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PWR shares. DA Davidson boosted their target price on Quanta Services from $295.00 to $305.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Argus set a $375.00 price target on Quanta Services in a report on Monday, May 5th. Stifel Nicolaus upped their price target on Quanta Services from $306.00 to $363.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Piper Sandler set a $360.00 price target on Quanta Services and gave the stock an “overweight” rating in a report on Tuesday, May 6th. Finally, Citigroup decreased their price target on Quanta Services from $366.00 to $342.00 and set a “buy” rating for the company in a report on Friday, April 25th. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $344.35.

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.