Keyes Stange & Wooten Wealth Management LLC Lowers Position in Quanta Services, Inc. (NYSE:PWR)

Keyes Stange & Wooten Wealth Management LLC decreased its position in Quanta Services, Inc. (NYSE:PWR) by 8.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,392 shares of the construction company’s stock after selling 127 shares during the quarter. Keyes Stange & Wooten Wealth Management LLC’s holdings in Quanta Services were worth $440,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PWR. Vanguard Group Inc. increased its stake in Quanta Services by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock valued at $5,375,828,000 after buying an additional 161,277 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Quanta Services by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company’s stock valued at $1,121,830,000 after acquiring an additional 99,416 shares during the last quarter. Invesco Ltd. boosted its position in Quanta Services by 3.7% in the fourth quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company’s stock worth $604,871,000 after purchasing an additional 68,565 shares during the last quarter. Norges Bank bought a new position in Quanta Services in the 4th quarter valued at $544,937,000. Finally, Bank of New York Mellon Corp increased its position in shares of Quanta Services by 4.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,024,510 shares of the construction company’s stock valued at $323,797,000 after purchasing an additional 45,486 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 2.7 %

NYSE PWR opened at $269.90 on Friday. The company has a market capitalization of $40.00 billion, a price-to-earnings ratio of 44.76, a PEG ratio of 1.41 and a beta of 1.04. The stock’s 50-day simple moving average is $267.21 and its two-hundred day simple moving average is $302.53. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $365.88.

Quanta Services (NYSE:PWR) last posted 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 firm had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. Research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend was Thursday, April 3rd. Quanta Services’s payout ratio is 6.63%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PWR shares. Stifel Nicolaus reduced their price target on shares of Quanta Services from $323.00 to $287.00 and set a “buy” rating for the company in a research report on Wednesday. Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Bank of America initiated coverage on Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 price objective on the stock. JPMorgan Chase & Co. boosted their target price on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Finally, Piper Sandler assumed coverage on Quanta Services in a research note on Tuesday. They set an “overweight” rating and a $286.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $319.25.

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.