Korea Investment CORP Reduces Holdings in Quanta Services, Inc. (NYSE:PWR)

Korea Investment CORP lessened its holdings in Quanta Services, Inc. (NYSE:PWR) by 14.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 124,831 shares of the construction company’s stock after selling 20,719 shares during the period. Korea Investment CORP owned 0.08% of Quanta Services worth $39,453,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PWR. Fisher Asset Management LLC purchased a new position in Quanta Services during the third quarter worth $211,000. Brooklyn Investment Group purchased a new stake in Quanta Services during the 3rd quarter worth about $125,000. BNP Paribas Financial Markets raised its stake in Quanta Services by 13.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 225,580 shares of the construction company’s stock valued at $67,257,000 after purchasing an additional 27,590 shares during the last quarter. Bridgewater Associates LP purchased a new position in Quanta Services in the 3rd quarter valued at about $11,652,000. Finally, Glenmede Trust Co. NA boosted its stake in shares of Quanta Services by 0.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 38,647 shares of the construction company’s stock worth $11,523,000 after purchasing an additional 287 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PWR. Bank of America started coverage on shares of Quanta Services in a research note on Friday, January 24th. They set a “buy” rating and a $407.00 price objective on the stock. Citigroup lowered their target price on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Guggenheim began coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating on the stock. Roth Mkm began coverage on Quanta Services in a report on Friday, February 21st. They set a “buy” rating and a $350.00 price objective for the company. Finally, Stifel Nicolaus cut their target price on Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $326.79.

Quanta Services Stock Down 2.4 %

Shares of Quanta Services stock opened at $254.47 on Friday. Quanta Services, Inc. has a 1-year low of $227.11 and a 1-year high of $365.88. The company has a market capitalization of $37.71 billion, a PE ratio of 42.20, a P/E/G ratio of 1.41 and a beta of 1.10. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The business has a 50-day moving average of $284.73 and a 200-day moving average of $304.34.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. The firm had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. As a group, equities analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. Quanta Services’s dividend payout ratio (DPR) is 6.63%.

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.