CFM Wealth Partners LLC Lowers Position in Quanta Services, Inc. (NYSE:PWR)

CFM Wealth Partners LLC lowered its position in Quanta Services, Inc. (NYSE:PWR) by 6.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,485 shares of the construction company’s stock after selling 327 shares during the quarter. CFM Wealth Partners LLC’s holdings in Quanta Services were worth $1,417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Versor Investments LP bought a new position in shares of Quanta Services in the third quarter worth approximately $406,000. Principal Financial Group Inc. grew its holdings in shares of Quanta Services by 5.6% in the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after purchasing an additional 11,012 shares during the last quarter. Asio Capital LLC bought a new stake in Quanta Services in the third quarter valued at $2,715,000. Synovus Financial Corp boosted its holdings in Quanta Services by 34.0% in the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after acquiring an additional 1,830 shares in the last quarter. Finally, Waverton Investment Management Ltd lifted its position in Quanta Services by 6.5% during the third quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock valued at $12,509,000 after buying an additional 2,557 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Trading Down 0.4 %

Shares of NYSE PWR opened at $308.10 on Monday. The company’s fifty day moving average is $328.59 and its 200-day moving average is $301.69. The stock has a market cap of $45.48 billion, a price-to-earnings ratio of 56.85, a P/E/G ratio of 1.54 and a beta of 1.05. Quanta Services, Inc. has a twelve month low of $193.52 and a twelve month high of $365.88. 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 (NYSE:PWR) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.46 by $0.26. The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. Quanta Services’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.08 EPS. Equities research analysts predict that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were paid a $0.10 dividend. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 annualized dividend and a yield of 0.13%. Quanta Services’s dividend payout ratio is presently 7.38%.

Analyst Upgrades and Downgrades

PWR has been the subject of a number of recent analyst reports. Bank of America began coverage on Quanta Services in a research report on Friday, January 24th. They issued a “buy” rating and a $407.00 target price for the company. Robert W. Baird upped their price target on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. upped their price objective on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. TD Cowen increased their price target on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, Daiwa Capital Markets assumed coverage on Quanta Services in a research report on Friday, December 6th. They set an “outperform” rating and a $355.00 price target on the stock. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and an average target price of $330.06.

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.