Paloma Partners Management Co Trims Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Paloma Partners Management Co cut its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 14.7% during the first quarter, Holdings Channel reports. The firm owned 5,051 shares of the construction company’s stock after selling 873 shares during the quarter. Paloma Partners Management Co’s holdings in Quanta Services were worth $1,312,000 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. Pacer Advisors Inc. boosted its holdings in shares of Quanta Services by 39.1% in the fourth quarter. Pacer Advisors Inc. now owns 12,964 shares of the construction company’s stock valued at $2,798,000 after acquiring an additional 3,645 shares during the period. Assenagon Asset Management S.A. lifted its position in Quanta Services by 3.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 5,819 shares of the construction company’s stock worth $1,256,000 after buying an additional 211 shares during the period. Planned Solutions Inc. purchased a new position in shares of Quanta Services in the 4th quarter worth about $43,000. Gradient Investments LLC raised its holdings in shares of Quanta Services by 669,187.5% in the 4th quarter. Gradient Investments LLC now owns 53,543 shares of the construction company’s stock worth $11,555,000 after purchasing an additional 53,535 shares during the period. Finally, Meridian Financial Partners LLC grew its stake in shares of Quanta Services by 8.3% in the fourth quarter. Meridian Financial Partners LLC now owns 5,054 shares of the construction company’s stock valued at $1,020,000 after buying an additional 389 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Truist Financial reiterated a “buy” rating and issued a $305.00 target price (up previously from $301.00) on shares of Quanta Services in a research report on Monday, May 6th. Robert W. Baird raised their price target on Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Citigroup raised their price target on Quanta Services from $299.00 to $302.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. B. Riley raised their price target on Quanta Services from $246.00 to $286.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Finally, The Goldman Sachs Group lifted their target price on Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $273.75.

Quanta Services Trading Down 0.2 %

NYSE:PWR traded down $0.51 during trading hours on Monday, hitting $256.22. 703,357 shares of the stock were exchanged, compared to its average volume of 944,792. The company’s 50 day moving average is $266.66 and its two-hundred day moving average is $247.80. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $286.87. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $37.51 billion, a P/E ratio of 49.66 and a beta of 1.03.

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

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Monday, July 1st were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend was Monday, July 1st. Quanta Services’s payout ratio is 6.98%.

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.