Anderson Hoagland & Co. Reduces Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Anderson Hoagland & Co. trimmed its position in shares of Quanta Services, Inc. (NYSE:PWR) by 3.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,258 shares of the construction company’s stock after selling 396 shares during the period. Anderson Hoagland & Co.’s holdings in Quanta Services were worth $4,137,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Legacy Investment Solutions LLC bought a new position in shares of Quanta Services during the 3rd quarter worth $31,000. Prestige Wealth Management Group LLC purchased a new stake in Quanta Services during the third quarter valued at about $30,000. Sound Income Strategies LLC increased its stake in shares of Quanta Services by 700.0% in the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after purchasing an additional 91 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Quanta Services by 62.5% in the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after purchasing an additional 45 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new stake in shares of Quanta Services during the 3rd quarter valued at approximately $41,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Up 0.8 %

Shares of NYSE:PWR opened at $357.55 on Friday. The firm has a fifty day moving average of $332.01 and a 200 day moving average of $299.93. Quanta Services, Inc. has a 52-week low of $193.50 and a 52-week high of $365.88. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The firm has a market capitalization of $52.78 billion, a PE ratio of 65.97 and a beta of 1.06.

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 analysts’ consensus estimates of $2.46 by $0.26. The firm had revenue of $6.49 billion during 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 company’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.08 EPS. As a group, research analysts anticipate that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis 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 payout ratio is presently 7.38%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Truist Financial reduced their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. JPMorgan Chase & Co. initiated coverage on Quanta Services in a research report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price target for the company. Daiwa Capital Markets assumed coverage on Quanta Services in a report on Friday, December 6th. They set an “outperform” rating and a $355.00 price objective on the stock. Robert W. Baird lifted their target price on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Bank of America initiated coverage on Quanta Services in a research report on Friday. They set a “buy” rating and a $407.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $329.88.

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.