Mutual of America Capital Management LLC Sells 426 Shares of Quanta Services, Inc. (NYSE:PWR)

Mutual of America Capital Management LLC reduced its stake in Quanta Services, Inc. (NYSE:PWR) by 1.9% during the third quarter, Holdings Channel.com reports. The firm owned 21,484 shares of the construction company’s stock after selling 426 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Quanta Services were worth $6,405,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. UniSuper Management Pty Ltd lifted its position in shares of Quanta Services by 300.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 5,742 shares of the construction company’s stock valued at $1,492,000 after buying an additional 4,309 shares in the last quarter. Lake Street Advisors Group LLC purchased a new position in Quanta Services during the first quarter valued at approximately $348,000. EntryPoint Capital LLC purchased a new stake in shares of Quanta Services in the first quarter worth $25,000. Pinnbrook Capital Management LP bought a new stake in shares of Quanta Services during the 1st quarter valued at $2,349,000. Finally, Toronto Dominion Bank raised its position in shares of Quanta Services by 31.8% during the 1st quarter. Toronto Dominion Bank now owns 89,871 shares of the construction company’s stock valued at $23,348,000 after purchasing an additional 21,671 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PWR has been the topic of a number of recent analyst reports. Northland Securities reissued an “outperform” rating and set a $328.00 price target (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. UBS Group boosted their price target on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Citigroup increased their price objective on shares of Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a report on Friday, October 4th. Robert W. Baird upped their target price on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, B. Riley lifted their price target on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

Quanta Services Price Performance

Shares of Quanta Services stock opened at $330.71 on Wednesday. The stock has a 50 day moving average price of $304.98 and a 200-day moving average price of $278.87. Quanta Services, Inc. has a one year low of $180.97 and a one year high of $335.00. The stock has a market cap of $48.82 billion, a price-to-earnings ratio of 61.02 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23.

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 analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter in the previous year, the business posted $2.08 earnings per share. The business’s revenue was up 15.5% compared to the same quarter last year. Equities analysts expect that Quanta Services, Inc. will post 7.88 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services’s payout ratio is currently 6.64%.

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.