Silverleafe Capital Partners LLC Reduces Position in Quanta Services, Inc. (NYSE:PWR)

Silverleafe Capital Partners LLC decreased its stake in Quanta Services, Inc. (NYSE:PWR) by 43.2% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 6,585 shares of the construction company’s stock after selling 5,000 shares during the period. Quanta Services accounts for 0.7% of Silverleafe Capital Partners LLC’s portfolio, making the stock its 25th biggest position. Silverleafe Capital Partners LLC’s holdings in Quanta Services were worth $1,711,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Quanta Services by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 16,235,875 shares of the construction company’s stock worth $3,503,702,000 after acquiring an additional 191,334 shares during the period. Capital World Investors increased its holdings in shares of Quanta Services by 11.6% in the 4th quarter. Capital World Investors now owns 6,000,722 shares of the construction company’s stock valued at $1,294,956,000 after purchasing an additional 624,545 shares in the last quarter. Artisan Partners Limited Partnership increased its holdings in shares of Quanta Services by 384.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock valued at $526,261,000 after purchasing an additional 1,935,786 shares in the last quarter. Norges Bank purchased a new position in shares of Quanta Services in the 4th quarter valued at about $335,777,000. Finally, Morgan Stanley increased its holdings in shares of Quanta Services by 3.3% in the 3rd quarter. Morgan Stanley now owns 1,539,987 shares of the construction company’s stock valued at $288,086,000 after purchasing an additional 49,602 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Trading Down 4.9 %

Shares of PWR stock opened at $254.09 on Friday. The stock has a market cap of $37.20 billion, a price-to-earnings ratio of 49.23 and a beta of 1.05. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.50. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $286.87. The firm’s 50 day moving average price is $268.79 and its two-hundred day moving average price is $240.53.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, May 2nd. The construction company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.14. The company had revenue of $5.03 billion for the quarter, compared to analyst estimates of $4.96 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. On average, analysts anticipate that Quanta Services, Inc. will post 7.69 EPS for the current year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Monday, July 1st will be paid a $0.09 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio (DPR) is presently 6.98%.

Analyst Ratings Changes

Several research firms have weighed in on PWR. Argus raised their target price on shares of Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, May 30th. B. Riley raised their target price on shares of Quanta Services from $246.00 to $286.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Robert W. Baird lifted their price target on shares of Quanta Services from $265.00 to $287.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Citigroup lifted their price target on shares of Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Finally, Truist Financial reiterated a “buy” rating and set a $305.00 price target (up from $301.00) on shares of Quanta Services in a report on Monday, May 6th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $268.85.

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.