CenterBook Partners LP Trims Stock Position in Quanta Services, Inc. (NYSE:PWR)

CenterBook Partners LP reduced its stake in Quanta Services, Inc. (NYSE:PWR) by 37.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,499 shares of the construction company’s stock after selling 2,114 shares during the quarter. CenterBook Partners LP’s holdings in Quanta Services were worth $1,106,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PWR. Advisory Services Network LLC increased its stake in Quanta Services by 45.9% in the 4th quarter. Advisory Services Network LLC now owns 27,382 shares of the construction company’s stock valued at $8,654,000 after buying an additional 8,616 shares during the period. Abacus FCF Advisors LLC boosted its holdings in shares of Quanta Services by 46.4% in the fourth quarter. Abacus FCF Advisors LLC now owns 10,165 shares of the construction company’s stock valued at $3,213,000 after acquiring an additional 3,224 shares in the last quarter. Bank of Nova Scotia increased its stake in shares of Quanta Services by 123.9% during the fourth quarter. Bank of Nova Scotia now owns 116,016 shares of the construction company’s stock worth $36,667,000 after acquiring an additional 64,207 shares during the period. Rathbones Group PLC lifted its position in Quanta Services by 10.4% in the fourth quarter. Rathbones Group PLC now owns 7,769 shares of the construction company’s stock valued at $2,455,000 after purchasing an additional 731 shares during the period. Finally, Twin Capital Management Inc. boosted its holdings in Quanta Services by 2.0% in the 4th quarter. Twin Capital Management Inc. now owns 11,733 shares of the construction company’s stock valued at $3,708,000 after purchasing an additional 231 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Price Performance

Quanta Services stock opened at $269.90 on Friday. The firm’s 50-day moving average is $267.21 and its two-hundred day moving average is $302.53. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The stock has a market capitalization of $40.00 billion, a P/E ratio of 44.76, a P/E/G ratio of 1.41 and a beta of 1.04. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $365.88.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The firm had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Equities analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.15%. Quanta Services’s dividend payout ratio (DPR) is presently 6.63%.

Analyst Upgrades and Downgrades

PWR has been the subject of a number of analyst reports. Piper Sandler began coverage on Quanta Services in a research note on Tuesday. They set an “overweight” rating and a $286.00 target price for the company. Roth Capital raised Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Stifel Nicolaus lowered their price target on shares of Quanta Services from $323.00 to $287.00 and set a “buy” rating on the stock in a research note on Wednesday. Guggenheim began coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating for the company. Finally, Daiwa Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and an average target price of $319.25.

About Quanta Services

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.