Quanta Services, Inc. (NYSE:PWR) Stake Lessened by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp trimmed its position in Quanta Services, Inc. (NYSE:PWR) by 27.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,367 shares of the construction company’s stock after selling 3,878 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Quanta Services were worth $3,276,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PWR. Banque Transatlantique SA bought a new position in Quanta Services during the fourth quarter valued at about $25,000. Webster Bank N. A. grew its stake in shares of Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after purchasing an additional 81 shares during the last quarter. Quarry LP bought a new stake in shares of Quanta Services in the 4th quarter worth approximately $26,000. Sierra Ocean LLC acquired a new stake in Quanta Services during the fourth quarter valued at approximately $27,000. Finally, Sound Income Strategies LLC boosted its holdings in Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after buying an additional 91 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PWR has been the topic of a number of recent research reports. Daiwa Capital Markets cut Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. BMO Capital Markets set a $352.00 target price on shares of Quanta Services in a research report on Friday, May 2nd. Piper Sandler set a $360.00 price objective on shares of Quanta Services and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Finally, DA Davidson raised their target price on Quanta Services from $295.00 to $305.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Six 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 MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $344.35.

Quanta Services Trading Down 0.2%

Shares of NYSE:PWR opened at $342.89 on Thursday. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $50.84 billion, a PE ratio of 56.86, a P/E/G ratio of 1.41 and a beta of 1.02. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $365.88. The firm has a fifty day moving average price of $277.17 and a 200 day moving average price of $301.34.

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

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.12%. 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.