Electron Capital Partners LLC Reduces Holdings in Quanta Services, Inc. (NYSE:PWR)

Electron Capital Partners LLC lowered its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 18.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 555,200 shares of the construction company’s stock after selling 126,412 shares during the quarter. Quanta Services comprises 5.0% of Electron Capital Partners LLC’s holdings, making the stock its 7th largest holding. Electron Capital Partners LLC owned 0.38% of Quanta Services worth $119,812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in PWR. Truist Financial Corp boosted its holdings in Quanta Services by 2.2% in the fourth quarter. Truist Financial Corp now owns 432,810 shares of the construction company’s stock worth $93,400,000 after acquiring an additional 9,421 shares in the last quarter. Carnegie Capital Asset Management LLC raised its stake in shares of Quanta Services by 24.5% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 1,650 shares of the construction company’s stock worth $356,000 after purchasing an additional 325 shares during the last quarter. Gradient Investments LLC raised its stake in shares of Quanta Services by 669,187.5% in the fourth quarter. Gradient Investments LLC now owns 53,543 shares of the construction company’s stock worth $11,555,000 after purchasing an additional 53,535 shares during the last quarter. Saxon Interests Inc. purchased a new position in shares of Quanta Services in the fourth quarter worth about $1,352,000. Finally, Public Employees Retirement Association of Colorado raised its stake in shares of Quanta Services by 20,298.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,057,681 shares of the construction company’s stock worth $228,248,000 after purchasing an additional 1,052,496 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PWR shares. Argus raised their price objective on Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. DA Davidson raised their price objective on Quanta Services from $225.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. Truist Financial restated a “buy” rating and issued a $305.00 price objective (up from $301.00) on shares of Quanta Services in a research note on Monday, May 6th. Robert W. Baird lifted their price target on Quanta Services from $265.00 to $287.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Finally, B. Riley lifted their price target on Quanta Services from $246.00 to $286.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $268.85.

Quanta Services Price Performance

Shares of Quanta Services stock traded down $3.41 on Friday, reaching $273.29. The company’s stock had a trading volume of 762,135 shares, compared to its average volume of 874,398. The company has a market capitalization of $40.01 billion, a P/E ratio of 52.96 and a beta of 1.05. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $286.87. The stock has a 50-day moving average price of $264.73 and a 200-day moving average price of $235.29. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.50.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, May 2nd. The construction company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.14. The firm had revenue of $5.03 billion for the quarter, compared to analyst estimates of $4.96 billion. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. Analysts expect that Quanta Services, Inc. will post 7.69 EPS for the current year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Monday, July 1st will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date of this dividend is Monday, July 1st. Quanta Services’s dividend payout ratio is presently 6.98%.

Insider Transactions at Quanta Services

In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the transaction, the executive vice president now owns 40,065 shares of the company’s stock, valued at $10,494,626.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

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.