Marion Wealth Management Decreases Stake in Quanta Services, Inc. (NYSE:PWR)

Marion Wealth Management cut its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 11.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,652 shares of the construction company’s stock after selling 695 shares during the period. Marion Wealth Management’s holdings in Quanta Services were worth $1,437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Rothschild Investment LLC raised its position in Quanta Services by 70.8% during the first quarter. Rothschild Investment LLC now owns 791 shares of the construction company’s stock valued at $201,000 after purchasing an additional 328 shares during the period. Parallel Advisors LLC raised its position in Quanta Services by 2.6% during the first quarter. Parallel Advisors LLC now owns 18,335 shares of the construction company’s stock valued at $4,660,000 after purchasing an additional 461 shares during the period. GAMMA Investing LLC raised its position in Quanta Services by 22,475.0% during the first quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company’s stock valued at $207,261,000 after purchasing an additional 811,797 shares during the period. Quent Capital LLC raised its position in Quanta Services by 3.2% during the first quarter. Quent Capital LLC now owns 1,362 shares of the construction company’s stock valued at $346,000 after purchasing an additional 42 shares during the period. Finally, First Hawaiian Bank raised its position in Quanta Services by 47.2% during the first quarter. First Hawaiian Bank now owns 6,888 shares of the construction company’s stock valued at $1,751,000 after purchasing an additional 2,208 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Stock Up 0.7%

Shares of NYSE PWR opened at $342.04 on Friday. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $365.88. The stock’s fifty day simple moving average is $295.98 and its two-hundred day simple moving average is $303.41. 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 stock has a market capitalization of $50.71 billion, a PE ratio of 56.72, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share 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 firm had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.88 billion. During the same quarter in the previous year, the business earned $1.41 EPS. Quanta Services’s revenue for the quarter was up 23.9% compared to the same quarter last year. As a group, analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PWR shares. Roth Capital upgraded Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Daiwa Capital Markets downgraded Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. B. Riley increased their price target on Quanta Services from $300.00 to $355.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. TD Cowen increased their price target on Quanta Services from $335.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Finally, The Goldman Sachs Group reduced their price target on Quanta Services from $418.00 to $364.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Six research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $344.85.

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.