UniSuper Management Pty Ltd Sells 7,665 Shares of Quanta Services, Inc. (NYSE:PWR)

UniSuper Management Pty Ltd reduced its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 8.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 86,978 shares of the construction company’s stock after selling 7,665 shares during the quarter. UniSuper Management Pty Ltd owned about 0.06% of Quanta Services worth $27,489,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PWR. Webster Bank N. A. raised its holdings in Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after buying an additional 81 shares during the period. Sierra Ocean LLC bought a new position in Quanta Services during the fourth quarter valued at $27,000. Legacy Investment Solutions LLC purchased a new stake in shares of Quanta Services in the third quarter valued at $31,000. Prestige Wealth Management Group LLC bought a new stake in shares of Quanta Services in the 3rd quarter worth about $30,000. Finally, Sound Income Strategies LLC boosted its stake 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 worth $33,000 after purchasing an additional 91 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PWR shares. BMO Capital Markets raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $338.00 to $316.00 in a research note on Tuesday, February 25th. Roth Capital raised Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Citigroup cut their price objective on Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Daiwa Capital Markets lowered shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Finally, Roth Mkm assumed 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. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $326.79.

Quanta Services Stock Down 5.7 %

NYSE:PWR opened at $260.45 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The stock has a market capitalization of $38.60 billion, a P/E ratio of 43.19, a P/E/G ratio of 1.41 and a beta of 1.10. The company’s 50-day simple moving average is $286.36 and its 200-day simple moving average is $304.69. Quanta Services, Inc. has a fifty-two week low of $227.11 and a fifty-two week high of $365.88.

Quanta Services (NYSE:PWR) last issued 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 business 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 anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

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 issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.15%. The ex-dividend date of this dividend 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.