Quanta Services, Inc. (NYSE:PWR) Shares Sold by Pinebridge Investments L.P.

by · The Cerbat Gem

Pinebridge Investments L.P. lessened its position in shares of Quanta Services, Inc. (NYSE:PWR – Free Report) by 42.6% in the 4th quarter, HoldingsChannel reports. The fund owned 31,568 shares of the construction company’s stock after selling 23,420 shares during the period. Pinebridge Investments L.P.’s holdings in Quanta Services were worth $9,977,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Quanta Services during the 4th quarter worth $544,937,000. Capital World Investors lifted its holdings in Quanta Services by 14.1% during the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company’s stock worth $2,282,978,000 after buying an additional 891,977 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Quanta Services during the 4th quarter worth about $203,068,000. First Trust Advisors LP increased its holdings in shares of Quanta Services by 54.1% in the 4th quarter. First Trust Advisors LP now owns 725,453 shares of the construction company’s stock valued at $229,279,000 after acquiring an additional 254,640 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Quanta Services during the 4th quarter worth about $53,949,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $282.48 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average price of $261.83 and a 200 day moving average price of $300.63. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $365.88. The company has a market cap of $41.88 billion, a P/E ratio of 46.85, a PEG ratio of 1.41 and a beta of 1.04.

Quanta Services (NYSE:PWR – Get Free Report) last posted its quarterly earnings results 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. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. Research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

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

Analysts Set New Price Targets

PWR has been the topic of several recent analyst reports. Roth Mkm began coverage on shares of Quanta Services in a research note on Friday, February 21st. They issued a “buy” rating and a $350.00 price target on the stock. The Goldman Sachs Group decreased their price objective on shares of Quanta Services from $418.00 to $364.00 and set a “buy” rating for the company in a research note on Thursday. Stifel Nicolaus dropped their price objective on Quanta Services from $323.00 to $287.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. B. Riley reissued a “neutral” rating and issued a $300.00 target price (down from $343.00) on shares of Quanta Services in a report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. raised their price target on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Six investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and an average target price of $323.15.

View Our Latest Stock Analysis on Quanta Services

Quanta Services Company Profile

(Free Report)

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.

See Also

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