Federated Hermes Inc. Sells 13,859 Shares of Quanta Services, Inc. (NYSE:PWR)

Federated Hermes Inc. lowered its position in Quanta Services, Inc. (NYSE:PWR) by 2.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 616,883 shares of the construction company’s stock after selling 13,859 shares during the quarter. Federated Hermes Inc.’s holdings in Quanta Services were worth $194,966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Paloma Partners Management Co boosted its stake in shares of Quanta Services by 139.3% in the 3rd quarter. Paloma Partners Management Co now owns 682 shares of the construction company’s stock valued at $203,000 after purchasing an additional 397 shares in the last quarter. Benjamin Edwards Inc. bought a new stake in Quanta Services in the third quarter worth $511,000. Janus Henderson Group PLC boosted its position in Quanta Services by 4.9% during the third quarter. Janus Henderson Group PLC now owns 17,221 shares of the construction company’s stock valued at $5,134,000 after buying an additional 800 shares during the period. IHT Wealth Management LLC grew its stake in shares of Quanta Services by 2.7% during the third quarter. IHT Wealth Management LLC now owns 1,816 shares of the construction company’s stock valued at $541,000 after buying an additional 47 shares during the last quarter. Finally, Royal London Asset Management Ltd. increased its holdings in shares of Quanta Services by 4.2% in the third quarter. Royal London Asset Management Ltd. now owns 59,723 shares of the construction company’s stock worth $17,801,000 after buying an additional 2,415 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Bank of America started coverage on Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 price target on the stock. Citigroup decreased their target price on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Truist Financial dropped their price target on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Daiwa Capital Markets cut shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. increased their target price on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $326.79.

Quanta Services Stock Down 5.0 %

Shares of Quanta Services stock opened at $239.50 on Friday. Quanta Services, Inc. has a 1 year low of $227.11 and a 1 year high of $365.88. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The company has a 50-day moving average of $273.15 and a 200 day moving average of $304.21. The firm has a market cap of $35.49 billion, a price-to-earnings ratio of 39.72, a PEG ratio of 1.41 and a beta of 1.04.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.12. The firm had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.17%. Quanta Services’s payout ratio 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.