Public Employees Retirement System of Ohio Sells 7,479 Shares of Quanta Services, Inc. (NYSE:PWR)

Public Employees Retirement System of Ohio reduced its holdings in Quanta Services, Inc. (NYSE:PWR) by 9.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,736 shares of the construction company’s stock after selling 7,479 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Quanta Services were worth $18,117,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PWR. EntryPoint Capital LLC acquired a new position in shares of Quanta Services during the first quarter worth about $25,000. Private Ocean LLC acquired a new position in shares of Quanta Services during the first quarter worth about $26,000. Salomon & Ludwin LLC acquired a new position in shares of Quanta Services during the first quarter worth about $26,000. Hazlett Burt & Watson Inc. boosted its position in shares of Quanta Services by 47.3% during the fourth 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 period. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Quanta Services during the fourth quarter worth about $34,000. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. 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. Citigroup upped their price objective on Quanta Services from $299.00 to $302.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Evercore ISI upped their price objective on Quanta Services from $255.00 to $288.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. B. Riley increased 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. Finally, Truist Financial reissued a “buy” rating and set a $305.00 price target (up from $301.00) on shares of Quanta Services in a research report on Monday, May 6th. Three 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 stock has a consensus rating of “Moderate Buy” and an average target price of $273.75.

Quanta Services Stock Performance

PWR opened at $259.01 on Tuesday. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $286.87. The stock has a market cap of $37.92 billion, a price-to-earnings ratio of 49.66 and a beta of 1.03. The business has a 50 day moving average of $266.66 and a 200-day moving average of $247.80. 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 released its quarterly earnings data on Thursday, May 2nd. The construction company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.14. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. The company had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $4.96 billion. On average, equities research analysts expect that Quanta Services, Inc. will post 7.69 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Monday, July 1st were paid a dividend of $0.09 per share. The ex-dividend date was 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 (DPR) is currently 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.