Quanta Services, Inc. (NYSE:PWR) Shares Sold by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC trimmed its position in Quanta Services, Inc. (NYSE:PWR) by 0.3% in the first quarter, HoldingsChannel.com reports. The firm owned 35,603 shares of the construction company’s stock after selling 120 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Quanta Services were worth $9,050,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PWR. Banque Transatlantique SA acquired a new stake in Quanta Services in the fourth quarter worth approximately $25,000. Quarry LP acquired a new stake in Quanta Services in the fourth quarter worth approximately $26,000. Sierra Ocean LLC acquired a new stake in Quanta Services in the fourth quarter worth approximately $27,000. Centricity Wealth Management LLC acquired a new stake in Quanta Services in the fourth quarter worth approximately $34,000. Finally, Rakuten Securities Inc. lifted its position in Quanta Services by 1,027.3% in the fourth quarter. Rakuten Securities Inc. now owns 124 shares of the construction company’s stock worth $39,000 after purchasing an additional 113 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Price Performance

PWR opened at $358.27 on Friday. The stock has a fifty day moving average of $314.35 and a 200-day moving average of $304.86. The firm has a market capitalization of $53.12 billion, a P/E ratio of 59.41, a PEG ratio of 1.41 and a beta of 1.07. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $365.88. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last released its earnings results 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 company had revenue of $6.23 billion during 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 for the quarter was up 23.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.41 earnings per share. Equities analysts forecast 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 will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date of this dividend is Tuesday, July 1st. Quanta Services’s dividend payout ratio (DPR) is presently 6.45%.

Analysts Set New Price Targets

A number of research firms have weighed in on PWR. Stifel Nicolaus upped their target price on Quanta Services from $306.00 to $363.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Daiwa America upgraded Quanta Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 11th. Piper Sandler reiterated an “overweight” rating and set a $370.00 price objective (up previously from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. TD Cowen increased their price objective on Quanta Services from $335.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. Finally, Argus set a $375.00 price objective on Quanta Services in a research report on Monday, May 5th. Six analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $349.65.

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.