Janney Capital Management LLC Cuts Holdings in Quanta Services, Inc. (NYSE:PWR)

Janney Capital Management LLC lowered its holdings in Quanta Services, Inc. (NYSE:PWR) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,490 shares of the construction company’s stock after selling 930 shares during the quarter. Janney Capital Management LLC’s holdings in Quanta Services were worth $8,688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. XTX Topco Ltd lifted its stake in Quanta Services by 31.6% during the 2nd quarter. XTX Topco Ltd now owns 1,872 shares of the construction company’s stock valued at $476,000 after acquiring an additional 449 shares during the period. Benjamin F. Edwards & Company Inc. lifted its position in Quanta Services by 13.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,704 shares of the construction company’s stock valued at $433,000 after purchasing an additional 200 shares during the period. Canada Pension Plan Investment Board boosted its holdings in Quanta Services by 242.1% in the second quarter. Canada Pension Plan Investment Board now owns 43,664 shares of the construction company’s stock worth $11,095,000 after purchasing an additional 30,899 shares during the last quarter. Pacer Advisors Inc. grew its position in Quanta Services by 0.9% in the 2nd quarter. Pacer Advisors Inc. now owns 11,378 shares of the construction company’s stock worth $2,891,000 after purchasing an additional 102 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC raised its stake in Quanta Services by 323.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 8,258 shares of the construction company’s stock valued at $2,099,000 after buying an additional 6,306 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Performance

NYSE:PWR opened at $364.91 on Wednesday. The stock has a 50-day moving average price of $330.11 and a 200 day moving average price of $298.10. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 12-month low of $187.27 and a 12-month high of $364.91. The stock has a market capitalization of $53.86 billion, a P/E ratio of 67.33 and a beta of 1.06.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.46 by $0.26. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.08 earnings per share. Equities research analysts forecast that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a $0.10 dividend. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date of this dividend was Thursday, January 2nd. Quanta Services’s payout ratio is currently 7.38%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PWR. Citigroup lifted their price objective on Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a report on Monday, December 9th. JPMorgan Chase & Co. began coverage on shares of Quanta Services in a research report on Monday, October 7th. They set a “neutral” rating and a $297.00 price target for the company. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Guggenheim initiated coverage on shares of Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating for the company. Finally, Truist Financial dropped their price target on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and an average price target of $324.19.

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.