Second Line Capital LLC Sells 416 Shares of Quanta Services, Inc. (NYSE:PWR)

Second Line Capital LLC trimmed its position in Quanta Services, Inc. (NYSE:PWR) by 4.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 9,317 shares of the construction company’s stock after selling 416 shares during the quarter. Second Line Capital LLC’s holdings in Quanta Services were worth $2,945,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Banque Transatlantique SA bought a new stake in Quanta Services during the fourth quarter worth about $25,000. Webster Bank N. A. raised its holdings in Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Quarry LP bought a new stake in Quanta Services during the fourth quarter worth about $26,000. Sierra Ocean LLC bought a new stake in Quanta Services during the fourth quarter worth about $27,000. Finally, Sound Income Strategies LLC raised 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 acquiring an additional 91 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Price Performance

Quanta Services stock opened at $344.92 on Friday. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $365.88. The stock’s 50 day moving average is $281.22 and its 200-day moving average is $301.74. 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 company has a market capitalization of $51.14 billion, a price-to-earnings ratio of 57.20, a PEG ratio of 1.41 and a beta of 1.02.

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

Quanta Services Announces Dividend

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

Wall Street Analysts Forecast Growth

PWR has been the topic of several analyst reports. BMO Capital Markets set a $352.00 target price on Quanta Services in a report on Friday, May 2nd. Bank of America initiated coverage on Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 target price on the stock. 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. JPMorgan Chase & Co. boosted their price target on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Finally, TD Cowen boosted their price target on Quanta Services from $335.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Six research 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 company. According to MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and an average target price of $344.35.

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.