Quanta Services, Inc. (NYSE:PWR) Shares Sold by Connors Investor Services Inc.

Connors Investor Services Inc. lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 9.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 50,450 shares of the construction company’s stock after selling 5,455 shares during the quarter. Quanta Services makes up 1.5% of Connors Investor Services Inc.’s portfolio, making the stock its 25th largest holding. Connors Investor Services Inc.’s holdings in Quanta Services were worth $15,945,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geneos Wealth Management Inc. boosted its holdings in Quanta Services by 0.7% in the fourth quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock worth $1,317,000 after purchasing an additional 29 shares in the last quarter. Commonwealth Financial Services LLC grew its stake in shares of Quanta Services by 2.6% in the fourth quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock worth $364,000 after acquiring an additional 29 shares during the last quarter. HB Wealth Management LLC raised its stake in Quanta Services by 0.9% during the 4th quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock valued at $1,050,000 after purchasing an additional 31 shares during the last quarter. Moody Lynn & Lieberson LLC grew its position in Quanta Services by 0.5% in the 4th quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock worth $1,941,000 after purchasing an additional 32 shares during the last quarter. Finally, Larson Financial Group LLC increased its holdings in shares of Quanta Services by 7.8% during the 4th quarter. Larson Financial Group LLC now owns 456 shares of the construction company’s stock worth $144,000 after purchasing an additional 33 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Performance

NYSE:PWR opened at $292.74 on Wednesday. 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 $43.40 billion, a P/E ratio of 48.55, a PEG ratio of 1.41 and a beta of 1.04. The stock has a 50 day simple moving average of $262.08 and a 200 day simple moving average of $300.21. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $365.88.

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

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.14%. Quanta Services’s payout ratio is currently 6.63%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PWR. Piper Sandler began coverage on Quanta Services in a research report on Tuesday, April 8th. They set an “overweight” rating and a $286.00 target price on the stock. B. Riley restated a “neutral” rating and set a $300.00 price target (down from $343.00) on shares of Quanta Services in a research report on Wednesday, March 19th. Roth Mkm initiated coverage on shares of Quanta Services in a research note on Friday, February 21st. They set a “buy” rating and a $350.00 price target on the stock. Truist Financial lowered their price target on shares of Quanta Services from $398.00 to $324.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Finally, Bank of America started coverage on Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 target price on the stock. Six research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $321.70.

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.