Quanta Services, Inc. (NYSE:PWR) Shares Sold by Dakota Wealth Management

Dakota Wealth Management cut its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 11.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 19,167 shares of the construction company’s stock after selling 2,556 shares during the period. Dakota Wealth Management’s holdings in Quanta Services were worth $6,058,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Versor Investments LP acquired a new position in shares of Quanta Services during the third quarter worth about $406,000. Principal Financial Group Inc. grew its position in shares of Quanta Services by 5.6% during the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after buying an additional 11,012 shares in the last quarter. Asio Capital LLC acquired a new position in shares of Quanta Services during the third quarter worth about $2,715,000. Waverton Investment Management Ltd boosted its holdings in Quanta Services by 6.5% in the third quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock valued at $12,509,000 after purchasing an additional 2,557 shares in the last quarter. Finally, Synovus Financial Corp boosted its holdings in Quanta Services by 34.0% in the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after purchasing an additional 1,830 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Performance

NYSE PWR opened at $358.12 on Wednesday. The business has a 50 day moving average price of $330.11 and a 200 day moving average price of $298.10. The company has a market capitalization of $52.86 billion, a P/E ratio of 66.07 and a beta of 1.06. 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, Inc. has a 1-year low of $187.27 and a 1-year high of $358.72.

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

Quanta Services Increases Dividend

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Citigroup upped their price target on Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a report on Monday, December 9th. Northland Securities reaffirmed an “outperform” rating and issued a $328.00 price target (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. TD Cowen upped their price target on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Robert W. Baird upped their price target on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. started coverage on Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 price objective for the company. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and an average price target of $324.19.

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.