Quanta Services, Inc. (NYSE:PWR) Shares Sold by Gilder Gagnon Howe & Co. LLC

Gilder Gagnon Howe & Co. LLC trimmed its stake in Quanta Services, Inc. (NYSE:PWR) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 482,493 shares of the construction company’s stock after selling 9,109 shares during the quarter. Quanta Services makes up 1.6% of Gilder Gagnon Howe & Co. LLC’s portfolio, making the stock its 14th biggest holding. Gilder Gagnon Howe & Co. LLC’s holdings in Quanta Services were worth $152,492,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PWR. Vanguard Group Inc. raised its stake in Quanta Services by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock valued at $5,375,828,000 after purchasing an additional 161,277 shares during the last quarter. Capital World Investors boosted its stake 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 worth $2,282,978,000 after purchasing an additional 891,977 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Quanta Services by 2.9% during 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 buying an additional 99,416 shares in the last quarter. Invesco Ltd. raised its position in shares of Quanta Services by 3.7% in the fourth quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company’s stock valued at $604,871,000 after buying an additional 68,565 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Quanta Services during the fourth quarter valued at approximately $544,937,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on PWR shares. Guggenheim initiated coverage on Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating on the stock. Piper Sandler assumed coverage on Quanta Services in a research report on Tuesday, April 8th. They set an “overweight” rating and a $286.00 target price on the stock. Stifel Nicolaus dropped their price objective on shares of Quanta Services from $323.00 to $287.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. B. Riley reissued a “neutral” rating and issued a $300.00 target price (down from $343.00) on shares of Quanta Services in a research report on Wednesday, March 19th. Finally, Roth Mkm began coverage on shares of Quanta Services in a research report on Friday, February 21st. They set a “buy” rating and a $350.00 price target for the company. Six research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $321.70.

Quanta Services Stock Up 2.0 %

Quanta Services stock opened at $287.64 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $365.88. The firm’s fifty day simple moving average is $261.85 and its 200-day simple moving average is $300.49. The company has a market capitalization of $42.65 billion, a P/E ratio of 47.70, a P/E/G ratio of 1.41 and a beta of 1.04.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.61 billion. Sell-side analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. Quanta Services’s payout ratio is 6.63%.

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.