Intech Investment Management LLC Lowers Position in Quanta Services, Inc. (NYSE:PWR)

Intech Investment Management LLC trimmed its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 51.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,694 shares of the construction company’s stock after selling 8,221 shares during the period. Intech Investment Management LLC’s holdings in Quanta Services were worth $2,294,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of PWR. EntryPoint Capital LLC purchased a new stake in shares of Quanta Services in the first quarter worth about $25,000. Quadrature Capital Ltd bought a new position in shares of Quanta Services during the 1st quarter valued at approximately $1,128,000. LRI Investments LLC purchased a new position in shares of Quanta Services in the first quarter valued at $80,000. Lazard Asset Management LLC raised its stake in Quanta Services by 71,012.5% during the first quarter. Lazard Asset Management LLC now owns 5,689 shares of the construction company’s stock valued at $1,478,000 after purchasing an additional 5,681 shares in the last quarter. Finally, BOKF NA lifted its position in Quanta Services by 25.4% during the first quarter. BOKF NA now owns 3,505 shares of the construction company’s stock valued at $909,000 after purchasing an additional 709 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on PWR shares. UBS Group lifted their price target on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group started coverage on shares of Quanta Services in a report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price target for the company. Truist Financial upped their price objective on Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Stifel Nicolaus increased their price target on shares of Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, B. Riley lifted their price objective on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and an average target price of $314.27.

Quanta Services Price Performance

Shares of PWR opened at $341.92 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The company’s fifty day moving average price is $309.24 and its 200-day moving average price is $280.37. Quanta Services, Inc. has a 1-year low of $180.97 and a 1-year high of $343.70. The firm has a market capitalization of $50.47 billion, a PE ratio of 63.08 and a beta of 1.01.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter in the previous year, the business earned $2.08 EPS. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, equities research analysts predict that Quanta Services, Inc. will post 7.88 EPS for the current year.

Quanta Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.12%. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, January 2nd. Quanta Services’s payout ratio is presently 6.64%.

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.