Quanta Services, Inc. (NYSE:PWR) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lowered its position in Quanta Services, Inc. (NYSE:PWR) by 1.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,297 shares of the construction company’s stock after selling 789 shares during the quarter. MetLife Investment Management LLC’s holdings in Quanta Services were worth $12,015,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Tower Wealth Partners Inc. grew its holdings in shares of Quanta Services by 3.1% during the 3rd quarter. Tower Wealth Partners Inc. now owns 1,122 shares of the construction company’s stock worth $335,000 after purchasing an additional 34 shares during the period. Huntington National Bank lifted its position in Quanta Services by 2.9% during the third quarter. Huntington National Bank now owns 1,240 shares of the construction company’s stock valued at $370,000 after buying an additional 35 shares in the last quarter. Terra Nova Asset Management LLC grew its stake in Quanta Services by 0.3% during the third quarter. Terra Nova Asset Management LLC now owns 12,779 shares of the construction company’s stock worth $3,810,000 after buying an additional 38 shares during the period. Greenleaf Trust increased its position in shares of Quanta Services by 1.2% in the third quarter. Greenleaf Trust now owns 3,154 shares of the construction company’s stock worth $940,000 after acquiring an additional 38 shares in the last quarter. Finally, EP Wealth Advisors LLC raised its stake in shares of Quanta Services by 0.6% in the 2nd quarter. EP Wealth Advisors LLC now owns 6,994 shares of the construction company’s stock valued at $1,777,000 after acquiring an additional 39 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PWR. Citigroup increased their price target on Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a report on Friday, October 4th. Stifel Nicolaus increased their target price on Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Robert W. Baird boosted their price target on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. B. Riley increased their price objective on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. assumed coverage on shares of Quanta Services in a research report on Monday, October 7th. They set a “neutral” rating and a $297.00 target price on the stock. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and a consensus target price of $314.27.

Quanta Services Price Performance

PWR opened at $343.83 on Thursday. The company has a market capitalization of $50.75 billion, a P/E ratio of 63.44 and a beta of 1.01. The company has a 50-day moving average of $312.12 and a 200-day moving average of $281.41. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. Quanta Services, Inc. has a 1-year low of $180.97 and a 1-year high of $350.19.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same period in the previous year, the company earned $2.08 earnings per share. Quanta Services’s quarterly revenue was up 15.5% on a year-over-year basis. Equities analysts expect that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, January 2nd will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 0.12%. Quanta Services’s dividend payout ratio (DPR) is 6.64%.

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.