Westover Capital Advisors LLC Lowers Position in Quanta Services, Inc. (NYSE:PWR)

Westover Capital Advisors LLC lowered its stake in Quanta Services, Inc. (NYSE:PWR) by 3.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,233 shares of the construction company’s stock after selling 165 shares during the quarter. Westover Capital Advisors LLC’s holdings in Quanta Services were worth $1,330,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Capital World Investors raised its position in shares of Quanta Services by 14.1% during the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company’s stock valued at $2,282,978,000 after purchasing an additional 891,977 shares during the period. Geode Capital Management LLC boosted its stake in shares of Quanta Services by 2.9% in the fourth 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 period. Invesco Ltd. raised its stake in Quanta Services by 3.7% during the 4th quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company’s stock valued at $604,871,000 after purchasing an additional 68,565 shares during the period. Norges Bank bought a new position in Quanta Services in the 4th quarter worth approximately $544,937,000. Finally, Bank of America Corp DE grew its holdings in Quanta Services by 42.8% during the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company’s stock valued at $534,647,000 after buying an additional 506,722 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Performance

Shares of PWR stock opened at $407.34 on Friday. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $410.79. The business’s fifty day simple moving average is $367.08 and its 200-day simple moving average is $315.10. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.58. The company has a market cap of $60.39 billion, a PE ratio of 65.70, a PEG ratio of 2.78 and a beta of 1.08.

Quanta Services (NYSE:PWR) last issued 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. The business 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 18.06% and a net margin of 3.74%. The company’s quarterly revenue was up 23.9% on a year-over-year basis. During the same quarter last year, the company earned $1.41 earnings per share. Analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, July 1st. This represents a $0.40 annualized dividend and a yield of 0.10%. Quanta Services’s dividend payout ratio is presently 6.45%.

Wall Street Analysts Forecast Growth

Several analysts have commented on PWR shares. Daiwa America upgraded shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 11th. Evercore ISI increased their target price on Quanta Services from $331.00 to $360.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. DA Davidson raised their target price on shares of Quanta Services from $295.00 to $305.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. UBS Group set a $413.00 price target on shares of Quanta Services and gave the company a “buy” rating in a research note on Thursday, June 12th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $414.00 target price (up from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. Ten equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and a consensus target price of $359.20.

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.