Quanta Services, Inc. (NYSE:PWR) Shares Sold by TIAA Trust National Association

TIAA Trust National Association decreased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 86.3% during the fourth quarter, HoldingsChannel reports. The firm owned 5,594 shares of the construction company’s stock after selling 35,216 shares during the quarter. TIAA Trust National Association’s holdings in Quanta Services were worth $1,768,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kestra Private Wealth Services LLC increased its holdings in shares of Quanta Services by 85.0% in the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock valued at $1,502,000 after purchasing an additional 2,184 shares during the period. Principal Financial Group Inc. increased its holdings in Quanta Services by 5.6% in the 3rd 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 during the period. Synovus Financial Corp increased its holdings in Quanta Services by 34.0% in the 3rd quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock worth $2,148,000 after buying an additional 1,830 shares during the period. Hennion & Walsh Asset Management Inc. raised its position in Quanta Services by 4.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 17,573 shares of the construction company’s stock worth $5,554,000 after buying an additional 793 shares during the last quarter. Finally, SeaBridge Investment Advisors LLC purchased a new stake in shares of Quanta Services in the 4th quarter valued at $1,754,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Bank of America began coverage on shares of Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 target price for the company. JPMorgan Chase & Co. upped their target price on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Guggenheim started coverage on Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating for the company. B. Riley reissued a “neutral” rating and issued a $300.00 price target (down from $343.00) on shares of Quanta Services in a report on Wednesday, March 19th. Finally, Truist Financial cut their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $326.79.

Quanta Services Stock Down 5.7 %

PWR stock opened at $260.45 on Thursday. The stock has a market capitalization of $38.60 billion, a P/E ratio of 43.19, a P/E/G ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a 52 week low of $227.11 and a 52 week high of $365.88. The firm has a 50-day simple moving average of $286.36 and a 200-day simple moving average of $304.69. 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 (NYSE:PWR) last announced its earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. The business had revenue of $6.55 billion during 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%. Equities analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.15%. Quanta Services’s dividend payout ratio (DPR) is presently 6.63%.

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.