Pinnacle Wealth Planning Services Inc. Trims Stock Position in Quanta Services, Inc. (NYSE:PWR)

Pinnacle Wealth Planning Services Inc. cut its position in Quanta Services, Inc. (NYSE:PWR) by 38.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 919 shares of the construction company’s stock after selling 563 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Quanta Services were worth $290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Quanta Services by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock worth $5,375,828,000 after purchasing an additional 161,277 shares during the period. Capital World Investors grew its position in Quanta Services by 14.1% during the fourth quarter. Capital World Investors now owns 7,223,471 shares of the construction company’s stock worth $2,282,978,000 after buying an additional 891,977 shares in the last quarter. Geode Capital Management LLC increased its stake in Quanta Services by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company’s stock worth $1,121,830,000 after acquiring an additional 99,416 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Quanta Services by 3.7% in the 4th quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company’s stock valued at $604,871,000 after acquiring an additional 68,565 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Quanta Services during the 4th quarter valued at about $544,937,000. 90.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. BMO Capital Markets set a $352.00 price objective on shares of Quanta Services in a research report on Friday, May 2nd. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Evercore ISI lifted their price objective on shares of Quanta Services from $331.00 to $360.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. DA Davidson increased their target price on Quanta Services from $295.00 to $305.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Finally, Citigroup lowered their price target on Quanta Services from $366.00 to $342.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Six analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and an average price target of $344.85.

Quanta Services Trading Up 2.1%

NYSE:PWR opened at $342.28 on Wednesday. The firm has a market capitalization of $50.75 billion, a P/E ratio of 56.76, a P/E/G ratio of 1.41 and a beta of 1.02. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The company has a fifty day moving average of $292.02 and a 200 day moving average of $302.98. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $365.88.

Quanta Services (NYSE:PWR) last released 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 firm 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 company’s revenue for the quarter was up 23.9% compared to the same quarter last year. During the same quarter in the previous 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 year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend is Tuesday, July 1st. Quanta Services’s dividend payout ratio (DPR) is currently 6.45%.

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.