Sei Investments Co. Cuts Position in Quanta Services, Inc. (NYSE:PWR)

Sei Investments Co. reduced its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 4.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 340,543 shares of the construction company’s stock after selling 14,250 shares during the period. Sei Investments Co.’s holdings in Quanta Services were worth $107,628,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

PWR has been the topic of several research reports. Roth Capital upgraded Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Bank of America started 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. Truist Financial lowered their price target 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. B. Riley restated a “neutral” rating and set a $300.00 price objective (down from $343.00) on shares of Quanta Services in a research report on Wednesday. Finally, BMO Capital Markets upgraded Quanta Services from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $338.00 to $316.00 in a report on Tuesday, February 25th. Seven equities 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 company. According to data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and a consensus target price of $326.79.

Quanta Services Stock Performance

NYSE:PWR opened at $268.43 on Friday. The company has a market cap of $39.78 billion, a P/E ratio of 44.52, a P/E/G ratio of 1.41 and a beta of 1.10. The firm’s 50 day moving average is $289.30 and its two-hundred day moving average is $304.27. Quanta Services, Inc. has a fifty-two week low of $227.11 and a fifty-two 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 earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.12. The business had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. Analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

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

Quanta Services Company 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.