Burr Financial Services LLC Sells 456 Shares of Quanta Services, Inc. (NYSE:PWR)

Burr Financial Services LLC lowered its stake in shares of Quanta Services, Inc. (NYSE:PWRFree Report) by 4.7% in the fourth quarter, HoldingsChannel reports. The firm owned 9,162 shares of the construction company’s stock after selling 456 shares during the quarter. Quanta Services makes up approximately 2.0% of Burr Financial Services LLC’s holdings, making the stock its 10th largest holding. Burr Financial Services LLC’s holdings in Quanta Services were worth $2,896,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Prestige Wealth Management Group LLC bought a new position in Quanta Services in the 3rd quarter worth approximately $30,000. Legacy Investment Solutions LLC bought a new position in shares of Quanta Services in the third quarter worth $31,000. Versant Capital Management Inc increased its holdings in shares of Quanta Services by 62.5% during the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock valued at $37,000 after purchasing an additional 45 shares during the period. MidAtlantic Capital Management Inc. bought a new stake in shares of Quanta Services during the third quarter valued at about $41,000. Finally, Eastern Bank acquired a new stake in Quanta Services in the third quarter worth about $44,000. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Down 0.3 %

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

Quanta Services (NYSE:PWRGet Free Report) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $6.56 billion. During the same period in the prior year, the firm earned $2.08 earnings per share. The firm’s revenue was up 15.5% compared to the same quarter last year. On average, sell-side analysts forecast that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were issued a dividend of $0.10 per share. 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 was Thursday, January 2nd. Quanta Services’s dividend payout ratio (DPR) is currently 7.38%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. TD Cowen boosted their price target on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Guggenheim started coverage on Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating for the company. UBS Group boosted their price objective on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. 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 research note on Friday, November 1st. Finally, JPMorgan Chase & Co. initiated coverage on shares of Quanta Services in a report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price target for the company. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $325.06.

Get Our Latest Analysis on Quanta Services

Quanta Services Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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