OMERS ADMINISTRATION Corp Cuts Stake in Quanta Services, Inc. (NYSE:PWR)

OMERS ADMINISTRATION Corp trimmed its stake in Quanta Services, Inc. (NYSE:PWR) by 27.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,367 shares of the construction company’s stock after selling 3,878 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Quanta Services were worth $3,276,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Banque Transatlantique SA acquired a new stake in shares of Quanta Services during the 4th quarter worth $25,000. Webster Bank N. A. raised its holdings in shares of Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after purchasing an additional 81 shares during the period. Quarry LP acquired a new position in shares of Quanta Services in the 4th quarter valued at about $26,000. Sierra Ocean LLC purchased a new stake in shares of Quanta Services during the 4th quarter worth about $27,000. Finally, Sound Income Strategies LLC increased its position in Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after purchasing an additional 91 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

PWR has been the subject of several research reports. Piper Sandler set a $360.00 price objective on shares of Quanta Services and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. Evercore ISI increased their price target on Quanta Services from $331.00 to $360.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. DA Davidson boosted their price objective on Quanta Services from $295.00 to $305.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. BMO Capital Markets set a $352.00 target price on Quanta Services in a research note on Friday, May 2nd. Finally, Argus set a $375.00 price target on Quanta Services in a research report on Monday, May 5th. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Quanta Services presently has a consensus rating of “Moderate Buy” and an average price target of $344.35.

Quanta Services Stock Down 0.2%

Quanta Services stock opened at $342.89 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $365.88. The company has a 50-day simple moving average of $277.17 and a 200-day simple moving average of $301.34. The firm has a market capitalization of $50.84 billion, a P/E ratio of 56.86, a P/E/G ratio of 1.41 and a beta of 1.02.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. The firm had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.88 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. Quanta Services’s quarterly revenue was up 23.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.41 EPS. As a group, equities analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The firm 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. This represents a $0.40 annualized dividend and a yield of 0.12%. The ex-dividend date was Thursday, April 3rd. Quanta Services’s payout ratio is currently 6.45%.

Quanta Services Company 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.