Thoroughbred Financial Services LLC Trims Stock Position in Quanta Services, Inc. (NYSE:PWR)

Thoroughbred Financial Services LLC lessened its stake in Quanta Services, Inc. (NYSE:PWR) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,623 shares of the construction company’s stock after selling 44 shares during the period. Thoroughbred Financial Services LLC’s holdings in Quanta Services were worth $512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Webster Bank N. A. lifted its stake in Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after buying an additional 81 shares during the last quarter. Sierra Ocean LLC acquired a new stake in Quanta Services during the 4th quarter worth $27,000. Prestige Wealth Management Group LLC purchased a new position in Quanta Services during the 3rd quarter worth $30,000. Legacy Investment Solutions LLC acquired a new position in Quanta Services in the third quarter valued at $31,000. Finally, Sound Income Strategies LLC grew its holdings in shares of Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after buying an additional 91 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PWR shares. B. Riley reiterated a “neutral” rating and issued a $300.00 price objective (down from $343.00) on shares of Quanta Services in a research report on Wednesday, March 19th. Daiwa Capital Markets lowered Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. JPMorgan Chase & Co. raised their price target on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Truist Financial decreased their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Finally, Citigroup reduced their price objective on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $326.79.

Quanta Services Stock Down 5.0 %

PWR opened at $239.50 on Friday. The firm has a market cap of $35.49 billion, a P/E ratio of 39.72, a PEG ratio of 1.41 and a beta of 1.04. The business’s fifty day simple moving average is $273.15 and its 200 day simple moving average is $304.21. Quanta Services, Inc. has a 52 week low of $227.11 and a 52 week high of $365.88. 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 issued its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. The business had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. As a group, equities research analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date is Thursday, April 3rd. Quanta Services’s dividend payout ratio is currently 6.63%.

Quanta Services 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.