Simon Quick Advisors LLC Decreases Holdings in Quanta Services, Inc. (NYSE:PWR)

Simon Quick Advisors LLC trimmed its stake in Quanta Services, Inc. (NYSE:PWR) by 23.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,835 shares of the construction company’s stock after selling 556 shares during the quarter. Simon Quick Advisors LLC’s holdings in Quanta Services were worth $580,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Legacy Investment Solutions LLC purchased a new stake in Quanta Services in the third quarter worth $31,000. Prestige Wealth Management Group LLC purchased a new stake in Quanta Services in the 3rd quarter worth about $30,000. Versant Capital Management Inc raised its stake in Quanta Services by 62.5% in the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock valued at $37,000 after acquiring an additional 45 shares during the period. MidAtlantic Capital Management Inc. purchased a new stake in Quanta Services during the third quarter valued at about $41,000. Finally, Eastern Bank bought a new position in Quanta Services during the third quarter worth about $44,000. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Down 0.3 %

Shares of NYSE:PWR opened at $357.02 on Thursday. The company has a market cap of $52.70 billion, a PE ratio of 65.87 and a beta of 1.06. The stock’s 50-day moving average is $330.71 and its 200 day moving average is $298.51. Quanta Services, Inc. has a 1 year low of $187.27 and a 1 year high of $365.88. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.26. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business’s revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.08 EPS. Sell-side analysts anticipate that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.11%. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, January 2nd. Quanta Services’s dividend payout ratio (DPR) is presently 7.38%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PWR. Citigroup upped their price target on shares of Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. initiated coverage on Quanta Services in a report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price target for the company. TD Cowen increased their price objective on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Northland Securities reaffirmed an “outperform” rating and set a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Finally, Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $325.06.

Quanta Services Company 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.