Investment Management Corp of Ontario Reduces Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Investment Management Corp of Ontario lowered its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 16.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,080 shares of the construction company’s stock after selling 800 shares during the quarter. Investment Management Corp of Ontario’s holdings in Quanta Services were worth $1,289,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Banque Transatlantique SA purchased a new position in Quanta Services during the 4th quarter valued at $25,000. Quarry LP purchased a new position in Quanta Services during the 4th quarter valued at $26,000. Webster Bank N. A. boosted its holdings in Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after acquiring an additional 81 shares during the period. Sierra Ocean LLC purchased a new position in Quanta Services during the 4th quarter valued at $27,000. Finally, Sound Income Strategies LLC boosted its holdings in Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after acquiring an additional 91 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 2.2%

Shares of NYSE:PWR opened at $333.01 on Tuesday. The business’s 50-day moving average is $273.14 and its 200 day moving average is $300.75. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $365.88. The firm has a market capitalization of $49.37 billion, a P/E ratio of 55.23, a P/E/G ratio of 1.41 and a beta of 1.02. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share 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 analyst estimates of $5.88 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The company’s revenue was up 23.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.41 earnings per share. On average, research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were paid a $0.10 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services’s payout ratio is 6.45%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PWR shares. Piper Sandler set a $360.00 price objective on Quanta Services and gave the company an “overweight” rating in a report on Tuesday, May 6th. Stifel Nicolaus upped their target price on Quanta Services from $306.00 to $363.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Bank of America assumed coverage on Quanta Services in a report on Friday, January 24th. They issued a “buy” rating and a $407.00 target price for the company. DA Davidson upped 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. Finally, Roth Mkm assumed coverage on Quanta Services in a report on Friday, February 21st. They issued a “buy” rating and a $350.00 target price for the company. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $344.35.

Quanta Services Company 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.