Teachers Retirement System of The State of Kentucky Lowers Stock Position in Quanta Services, Inc. (NYSE:PWR)

Teachers Retirement System of The State of Kentucky lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 4.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,841 shares of the construction company’s stock after selling 607 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Quanta Services were worth $3,077,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PWR. Nomura Holdings Inc. bought a new stake in Quanta Services in the fourth quarter worth $631,000. Wellington Management Group LLP grew its position in Quanta Services by 581.3% during the 4th quarter. Wellington Management Group LLP now owns 117,014 shares of the construction company’s stock valued at $25,252,000 after purchasing an additional 99,840 shares during the last quarter. Truist Financial Corp increased its stake in Quanta Services by 2.2% during the 4th quarter. Truist Financial Corp now owns 432,810 shares of the construction company’s stock valued at $93,400,000 after purchasing an additional 9,421 shares in the last quarter. Carnegie Capital Asset Management LLC raised its holdings in 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 buying an additional 325 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake 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 worth $3,503,702,000 after buying an additional 191,334 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Performance

Shares of Quanta Services stock traded down $13.96 on Friday, hitting $240.92. 1,787,626 shares of the company’s stock were exchanged, compared to its average volume of 1,038,446. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.32 and a current ratio of 1.30. The stock has a market capitalization of $35.27 billion, a PE ratio of 46.69 and a beta of 1.03. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $286.87. The company has a 50-day simple moving average of $264.85 and a 200-day simple moving average of $248.58.

Quanta Services (NYSE:PWR) last released 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. The company had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $4.96 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. As a group, equities analysts anticipate that Quanta Services, Inc. will post 7.69 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors 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 0.15%. Quanta Services’s dividend payout ratio (DPR) is presently 6.98%.

Analyst Ratings Changes

PWR has been the subject of several analyst reports. B. Riley raised their price target on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research report on Friday. Robert W. Baird boosted their price target on Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. The Goldman Sachs Group lifted their price objective on Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Argus upped their target price on shares of Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Finally, Truist Financial reiterated a “buy” rating and issued a $305.00 price target (up from $301.00) on shares of Quanta Services in a research note on Monday, May 6th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and a consensus price target of $281.00.

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.