Southeast Asset Advisors LLC Sells 4,572 Shares of Quanta Services, Inc. (NYSE:PWR)

Southeast Asset Advisors LLC reduced its position in shares of Quanta Services, Inc. (NYSE:PWR) by 56.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,538 shares of the construction company’s stock after selling 4,572 shares during the quarter. Southeast Asset Advisors LLC’s holdings in Quanta Services were worth $1,118,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC raised its holdings in shares of Quanta Services by 85.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock valued at $1,502,000 after purchasing an additional 2,184 shares during the period. Principal Financial Group Inc. raised its stake in Quanta Services by 5.6% in the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock valued at $61,932,000 after buying an additional 11,012 shares during the period. Synovus Financial Corp lifted its position in shares of Quanta Services by 34.0% in the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after buying an additional 1,830 shares during the last quarter. Allstate Corp bought a new position in shares of Quanta Services during the 4th quarter worth approximately $1,357,000. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in shares of Quanta Services by 4.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 17,573 shares of the construction company’s stock worth $5,554,000 after acquiring an additional 793 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

PWR has been the topic of a number of research reports. Bank of America assumed coverage on shares of Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 price target on the stock. Stifel Nicolaus decreased 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. Daiwa Capital Markets cut Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. B. Riley reaffirmed a “neutral” rating and issued a $300.00 price objective (down from $343.00) on shares of Quanta Services in a report on Wednesday, March 19th. Finally, Roth Capital raised Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $326.79.

Quanta Services Price Performance

PWR stock opened at $239.50 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. Quanta Services, Inc. has a 1 year low of $227.11 and a 1 year high of $365.88. The stock has a market cap of $35.49 billion, a price-to-earnings ratio of 39.72, a P/E/G ratio of 1.41 and a beta of 1.04. The company has a 50 day simple moving average of $273.15 and a 200 day simple moving average of $304.43.

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

Quanta Services Dividend Announcement

The firm also recently declared 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 0.17%. Quanta Services’s dividend payout ratio (DPR) is presently 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.