Bridgewater Associates LP Trims Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Bridgewater Associates LP lowered its position in shares of Quanta Services, Inc. (NYSE:PWR) by 28.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 27,797 shares of the construction company’s stock after selling 11,285 shares during the period. Bridgewater Associates LP’s holdings in Quanta Services were worth $8,785,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Webster Bank N. A. boosted its stake 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 acquiring an additional 81 shares in the last quarter. Sierra Ocean LLC bought a new stake in shares of Quanta Services in the 4th quarter worth approximately $27,000. Sound Income Strategies LLC grew its stake in shares of Quanta Services by 700.0% in the 4th 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. Centricity Wealth Management LLC purchased a new position in Quanta Services during the fourth quarter valued at $34,000. Finally, Versant Capital Management Inc boosted its holdings in Quanta Services by 62.5% in the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after acquiring an additional 45 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Down 1.2 %

NYSE PWR opened at $269.72 on Thursday. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $365.88. The stock’s 50 day moving average is $265.12 and its 200 day moving average is $301.99. The stock has a market cap of $39.97 billion, a PE ratio of 44.73, a P/E/G ratio of 1.41 and a beta of 1.04.

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

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.15%. The ex-dividend date was Thursday, April 3rd. Quanta Services’s dividend payout ratio is presently 6.63%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Bank of America initiated coverage on Quanta Services in a research report on Friday, January 24th. They issued a “buy” rating and a $407.00 price target 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 raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $338.00 to $316.00 in a research report on Tuesday, February 25th. Daiwa Capital Markets downgraded Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Finally, Roth Mkm started coverage on shares of Quanta Services in a report on Friday, February 21st. They set a “buy” rating and a $350.00 price target on the stock. Six investment 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 MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $319.25.

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.