Ameritas Investment Partners Inc. Trims Holdings in Quanta Services, Inc. (NYSE:PWR)

Ameritas Investment Partners Inc. cut its stake in Quanta Services, Inc. (NYSE:PWR) by 10.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,261 shares of the construction company’s stock after selling 1,589 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Quanta Services were worth $3,445,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Private Ocean LLC acquired a new stake in Quanta Services during the first quarter worth about $26,000. Salomon & Ludwin LLC purchased a new stake in shares of Quanta Services in the 1st quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. increased its holdings in shares of Quanta Services by 47.3% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after buying an additional 52 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of Quanta Services during the 4th quarter valued at approximately $34,000. Finally, Valley National Advisers Inc. acquired a new position in Quanta Services in the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PWR. Truist Financial reissued a “buy” rating and set a $305.00 target price (up previously from $301.00) on shares of Quanta Services in a research note on Monday, May 6th. DA Davidson upped their target price on shares of Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Citigroup lifted their price target on shares of Quanta Services from $299.00 to $302.00 and gave the company a “buy” rating in a research report on Monday. Evercore ISI upped their price objective on shares of Quanta Services from $255.00 to $288.00 and gave the stock an “outperform” rating in a report on Tuesday, May 7th. Finally, Argus lifted their target price on shares of Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $273.75.

Quanta Services Stock Down 1.2 %

Shares of NYSE PWR traded down $3.25 during mid-day trading on Tuesday, hitting $264.46. The company had a trading volume of 953,261 shares, compared to its average volume of 948,377. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $286.87. The company has a market capitalization of $38.71 billion, a PE ratio of 51.82 and a beta of 1.03. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.32. The business’s 50-day simple moving average is $267.70 and its 200 day simple moving average is $245.95.

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

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Monday, July 1st were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend was Monday, July 1st. Quanta Services’s dividend payout ratio (DPR) is presently 6.98%.

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.