SG Americas Securities LLC Sells 18,977 Shares of Quanta Services, Inc. (NYSE:PWR)

SG Americas Securities LLC lessened its position in shares of Quanta Services, Inc. (NYSE:PWR) by 80.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 4,489 shares of the construction company’s stock after selling 18,977 shares during the period. SG Americas Securities LLC’s holdings in Quanta Services were worth $1,419,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PWR. Prestige Wealth Management Group LLC purchased a new stake in shares of Quanta Services in the third quarter worth $30,000. Legacy Investment Solutions LLC bought a new position in Quanta Services in the 3rd quarter worth about $31,000. Versant Capital Management Inc raised its holdings in shares of Quanta Services by 62.5% in the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock valued at $37,000 after acquiring an additional 45 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of Quanta Services during the third quarter worth about $41,000. Finally, Eastern Bank bought a new position in shares of Quanta Services in the third quarter worth approximately $44,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Trading Down 18.3 %

Shares of PWR opened at $292.61 on Tuesday. The stock has a market capitalization of $43.19 billion, a P/E ratio of 53.99 and a beta of 1.06. The firm has a fifty day simple moving average of $331.29 and a two-hundred day simple moving average of $300.43. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a twelve month low of $193.52 and a twelve month high of $365.88.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company 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. Quanta Services’s revenue was up 15.5% compared to the same quarter last year. On average, research analysts anticipate that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend was Thursday, January 2nd. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio is currently 7.38%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PWR. Guggenheim initiated coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating for the company. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Bank of America initiated coverage on Quanta Services in a research note on Friday. They issued a “buy” rating and a $407.00 target price on the stock. Truist Financial cut their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, Robert W. Baird raised their price objective on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Four 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $329.88.

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.