Polar Asset Management Partners Inc. Sells 6,900 Shares of Quanta Services, Inc. (NYSE:PWR)

Polar Asset Management Partners Inc. cut its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 40.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,159 shares of the construction company’s stock after selling 6,900 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in Quanta Services were worth $3,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Geneos Wealth Management Inc. lifted its holdings in shares of Quanta Services by 0.7% in the 4th quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock worth $1,317,000 after acquiring an additional 29 shares during the last quarter. Commonwealth Financial Services LLC lifted its holdings in shares of Quanta Services by 2.6% in the 4th quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock worth $364,000 after acquiring an additional 29 shares during the last quarter. HB Wealth Management LLC lifted its holdings in shares of Quanta Services by 0.9% in the 4th quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock worth $1,050,000 after acquiring an additional 31 shares during the last quarter. Moody Lynn & Lieberson LLC lifted its holdings in shares of Quanta Services by 0.5% in the 4th quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock worth $1,941,000 after acquiring an additional 32 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in shares of Quanta Services by 7.8% in the 4th quarter. Larson Financial Group LLC now owns 456 shares of the construction company’s stock worth $144,000 after acquiring an additional 33 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Citigroup lowered their price objective on shares of Quanta Services from $366.00 to $342.00 and set a “buy” rating for the company in a report on Friday, April 25th. Evercore ISI lifted their target price on shares of Quanta Services from $331.00 to $360.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. JPMorgan Chase & Co. lifted their target price on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Daiwa America raised shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 11th. Finally, Roth Mkm assumed coverage on shares of Quanta Services in a research note on Friday, February 21st. They issued a “buy” rating and a $350.00 target price on the stock. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $344.35.

Quanta Services Stock Performance

Shares of PWR stock opened at $340.24 on Friday. The company’s 50-day moving average is $279.25 and its 200 day moving average is $301.53. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The company has a market capitalization of $50.45 billion, a price-to-earnings ratio of 56.42, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $365.88.

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

Quanta Services Dividend Announcement

The firm also recently announced 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. This represents a $0.40 annualized dividend and a yield of 0.12%. The ex-dividend date was Thursday, April 3rd. Quanta Services’s payout ratio is 6.45%.

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.