Advisor Resource Council Sells 4,118 Shares of Quanta Services, Inc. (NYSE:PWR)

Advisor Resource Council lowered its position in shares of Quanta Services, Inc. (NYSE:PWR) by 54.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,486 shares of the construction company’s stock after selling 4,118 shares during the period. Advisor Resource Council’s holdings in Quanta Services were worth $906,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in PWR. Vanguard Group Inc. raised its position in shares of Quanta Services by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 16,235,875 shares of the construction company’s stock valued at $3,503,702,000 after buying an additional 191,334 shares in the last quarter. Capital World Investors raised its holdings in Quanta Services by 11.6% in the 4th quarter. Capital World Investors now owns 6,000,722 shares of the construction company’s stock valued at $1,294,956,000 after acquiring an additional 624,545 shares in the last quarter. Artisan Partners Limited Partnership lifted its position in shares of Quanta Services by 384.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock valued at $526,261,000 after acquiring an additional 1,935,786 shares during the period. Norges Bank acquired a new stake in shares of Quanta Services during the 4th quarter worth $335,777,000. Finally, Morgan Stanley increased its position in shares of Quanta Services by 3.3% in the third quarter. Morgan Stanley now owns 1,539,987 shares of the construction company’s stock worth $288,086,000 after purchasing an additional 49,602 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PWR has been the subject of several analyst reports. Argus boosted their target price on shares of Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Citigroup boosted their price objective on shares of Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. 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 note on Friday, May 3rd. DA Davidson upped their price objective on Quanta Services from $225.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. Finally, B. Riley lifted their target price 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 equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $268.85.

Quanta Services Trading Up 2.8 %

Shares of PWR stock traded up $6.82 during trading hours on Thursday, hitting $254.60. 601,443 shares of the company were exchanged, compared to its average volume of 832,462. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $286.87. The company has a 50 day simple moving average of $268.78 and a two-hundred day simple moving average of $241.54. The firm has a market cap of $37.27 billion, a P/E ratio of 49.33 and a beta of 1.03.

Quanta Services (NYSE:PWR) last released its quarterly earnings data 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. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The company had revenue of $5.03 billion for the quarter, compared to analysts’ expectations of $4.96 billion. Equities analysts anticipate that Quanta Services, Inc. will post 7.69 EPS for the current year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Monday, July 1st will be issued a $0.09 dividend. The ex-dividend date is Monday, July 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio is presently 6.98%.

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.