EPG Wealth Management LLC Reduces Stake in Quanta Services, Inc. (NYSE:PWR)

EPG Wealth Management LLC lowered its position in Quanta Services, Inc. (NYSE:PWR) by 5.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,506 shares of the construction company’s stock after selling 823 shares during the period. Quanta Services accounts for about 1.1% of EPG Wealth Management LLC’s investment portfolio, making the stock its 16th largest holding. EPG Wealth Management LLC’s holdings in Quanta Services were worth $4,268,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Norges Bank bought a new stake in shares of Quanta Services in the fourth quarter worth approximately $544,937,000. Capital World Investors raised its position 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 valued at $2,282,978,000 after buying an additional 891,977 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Quanta Services during the 4th quarter worth about $203,068,000. Bank of America Corp DE grew its position in Quanta Services by 42.8% in the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company’s stock valued at $534,647,000 after acquiring an additional 506,722 shares during the last quarter. Finally, Voya Investment Management LLC increased its holdings in 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. Institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

PWR has been the topic of several recent analyst reports. Guggenheim began coverage on Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. upped their target price on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Evercore ISI lifted their price target on Quanta Services from $331.00 to $360.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Roth Mkm assumed coverage on shares of Quanta Services in a report on Friday, February 21st. They issued a “buy” rating and a $350.00 price objective on the stock. Finally, Daiwa America raised Quanta Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 11th. Six equities research 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 company’s stock. According to data from MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and an average price target of $340.10.

Quanta Services Price Performance

Shares of NYSE PWR opened at $317.83 on Wednesday. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $365.88. The firm has a market cap of $47.12 billion, a P/E ratio of 52.71, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02. The business’s 50 day moving average is $267.20 and its 200-day moving average is $300.36. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56.

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

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.13%. The ex-dividend date of this dividend was Thursday, April 3rd. Quanta Services’s dividend payout ratio (DPR) is presently 6.45%.

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.