Monarch Capital Management Inc. Sells 944 Shares of Quanta Services, Inc. (NYSE:PWR)

Monarch Capital Management Inc. lowered its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 3.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,076 shares of the construction company’s stock after selling 944 shares during the quarter. Quanta Services makes up approximately 1.6% of Monarch Capital Management Inc.’s portfolio, making the stock its 22nd largest holding. Monarch Capital Management Inc.’s holdings in Quanta Services were worth $5,865,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Larson Financial Group LLC grew its position in Quanta Services by 7.8% during the fourth quarter. Larson Financial Group LLC now owns 456 shares of the construction company’s stock valued at $144,000 after buying an additional 33 shares during the period. New Republic Capital LLC grew its position in Quanta Services by 4.8% during the fourth quarter. New Republic Capital LLC now owns 746 shares of the construction company’s stock valued at $236,000 after buying an additional 34 shares during the period. TBH Global Asset Management LLC grew its position in Quanta Services by 0.7% during the fourth quarter. TBH Global Asset Management LLC now owns 4,956 shares of the construction company’s stock valued at $1,566,000 after buying an additional 34 shares during the period. Rothschild Investment LLC grew its position in Quanta Services by 7.9% during the fourth quarter. Rothschild Investment LLC now owns 463 shares of the construction company’s stock valued at $146,000 after buying an additional 34 shares during the period. Finally, Paladin Wealth LLC grew its position in Quanta Services by 1.8% during the fourth quarter. Paladin Wealth LLC now owns 1,929 shares of the construction company’s stock valued at $610,000 after buying an additional 35 shares during the period. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Down 2.0%

Shares of NYSE PWR opened at $348.37 on Wednesday. The company has a market cap of $51.65 billion, a price-to-earnings ratio of 57.77, a PEG ratio of 1.41 and a beta of 1.07. The firm’s fifty day moving average is $309.76 and its 200 day moving average is $304.40. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week 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 announced its earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The firm had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $5.88 billion. During the same quarter in the previous year, the business posted $1.41 EPS. The company’s quarterly revenue was up 23.9% on a year-over-year basis. On average, equities research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current 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 given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.11%. The ex-dividend date is Tuesday, July 1st. Quanta Services’s dividend payout ratio is presently 6.45%.

Analysts Set New Price Targets

PWR has been the subject of several research reports. Roth Mkm initiated 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. Daiwa Capital Markets lowered shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. DA Davidson increased their target price on shares of Quanta Services from $295.00 to $305.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Evercore ISI increased their target price on shares of Quanta Services from $331.00 to $360.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Finally, Piper Sandler reiterated an “overweight” rating and set a $370.00 target price (up previously from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. Six equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and an average price target of $347.35.

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.