Quanta Services, Inc. (NYSE:PWR) Shares Sold by Electron Capital Partners LLC

Electron Capital Partners LLC reduced its stake in Quanta Services, Inc. (NYSE:PWR) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 351,634 shares of the construction company’s stock after selling 4,849 shares during the period. Quanta Services accounts for approximately 5.8% of Electron Capital Partners LLC’s investment portfolio, making the stock its 5th biggest position. Electron Capital Partners LLC owned approximately 0.24% of Quanta Services worth $111,134,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PWR. Quarry LP acquired a new position in shares of Quanta Services during the 4th quarter worth approximately $26,000. Webster Bank N. A. raised its holdings in Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. Sierra Ocean LLC bought a new stake in shares of Quanta Services during the 4th quarter valued at $27,000. Sound Income Strategies LLC raised its stake in Quanta Services by 700.0% in the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after purchasing an additional 91 shares in the last quarter. Finally, Centricity Wealth Management LLC acquired a new stake in Quanta Services during the fourth quarter worth about $34,000. Institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Truist Financial dropped their price objective on Quanta Services from $398.00 to $324.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Daiwa America raised Quanta Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 11th. Roth Capital raised Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Stifel Nicolaus cut their price target on Quanta Services from $323.00 to $287.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Six investment 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $321.70.

Quanta Services Stock Up 1.5 %

Shares of NYSE:PWR opened at $291.52 on Tuesday. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $365.88. 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’s 50-day moving average price is $261.84 and its 200-day moving average price is $300.27. The stock has a market capitalization of $43.22 billion, a P/E ratio of 48.35, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.12. The firm had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. On average, equities analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

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

Quanta Services 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.