NWK Group Inc. Cuts Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

NWK Group Inc. trimmed its position in shares of Quanta Services, Inc. (NYSE:PWR) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,129 shares of the construction company’s stock after selling 65 shares during the period. NWK Group Inc.’s holdings in Quanta Services were worth $1,305,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Diamant Asset Management Inc. acquired a new stake in Quanta Services in the third quarter valued at approximately $206,000. Wilmington Savings Fund Society FSB purchased a new stake in Quanta Services during the 3rd quarter worth $1,058,000. Tidal Investments LLC boosted its position in Quanta Services by 10.5% in the 3rd quarter. Tidal Investments LLC now owns 18,779 shares of the construction company’s stock valued at $5,597,000 after buying an additional 1,781 shares during the last quarter. Synovus Financial Corp grew its stake in shares of Quanta Services by 34.0% during the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after acquiring an additional 1,830 shares in the last quarter. Finally, Old North State Trust LLC lifted its stake in shares of Quanta Services by 7.3% in the third quarter. Old North State Trust LLC now owns 1,459 shares of the construction company’s stock worth $435,000 after acquiring an additional 99 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PWR. Guggenheim began coverage on Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating for the company. Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. BMO Capital Markets upgraded shares of Quanta Services from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $338.00 to $316.00 in a research note on Tuesday, February 25th. Roth Mkm initiated coverage on shares of Quanta Services in a research note on Friday, February 21st. They issued a “buy” rating and a $350.00 target price on the stock. Finally, Piper Sandler began coverage on Quanta Services in a research note on Tuesday, April 8th. They issued an “overweight” rating and a $286.00 price target for the company. Six analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and an average target price of $319.25.

Quanta Services Trading Down 0.7 %

Quanta Services stock opened at $267.47 on Friday. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $365.88. The stock has a market capitalization of $39.64 billion, a PE ratio of 44.36, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. The firm has a 50 day simple moving average of $263.56 and a 200-day simple moving average of $301.58. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The company had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. As a group, equities research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were issued a $0.10 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. Quanta Services’s payout ratio is currently 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.