Quanta Services, Inc. (NYSE:PWR) Shares Sold by Creekmur Asset Management LLC

Creekmur Asset Management LLC lessened its stake in Quanta Services, Inc. (NYSE:PWR) by 2.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,045 shares of the construction company’s stock after selling 113 shares during the period. Creekmur Asset Management LLC’s holdings in Quanta Services were worth $1,595,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Webster Bank N. A. boosted its stake in shares of Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Sierra Ocean LLC purchased a new position in Quanta Services during the fourth quarter worth approximately $27,000. Legacy Investment Solutions LLC acquired a new stake in Quanta Services in the third quarter valued at approximately $31,000. Prestige Wealth Management Group LLC acquired a new position in shares of Quanta Services during the 3rd quarter worth approximately $30,000. Finally, Sound Income Strategies LLC lifted its position in shares of Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after buying an additional 91 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PWR has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Stifel Nicolaus lowered their price target on Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Daiwa America cut shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. Citigroup reduced their target price on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, Truist Financial lowered their price target on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Seven equities research 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $326.79.

Quanta Services Trading Up 1.4 %

Shares of Quanta Services stock opened at $257.64 on Wednesday. The company has a fifty day simple moving average of $279.42 and a 200-day simple moving average of $304.87. Quanta Services, Inc. has a 12-month low of $227.11 and a 12-month high of $365.88. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The stock has a market cap of $38.18 billion, a price-to-earnings ratio of 42.73, a PEG ratio of 1.41 and a beta of 1.10.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. The firm had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. On average, 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 declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. The ex-dividend date is Thursday, April 3rd. Quanta Services’s dividend payout ratio is presently 6.63%.

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.