Cynosure Group LLC Has $560,000 Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Cynosure Group LLC reduced its stake in Quanta Services, Inc. (NYSE:PWR) by 34.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,771 shares of the construction company’s stock after selling 929 shares during the quarter. Cynosure Group LLC’s holdings in Quanta Services were worth $560,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PWR. Kestra Private Wealth Services LLC grew its holdings in Quanta Services by 85.0% during the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock worth $1,502,000 after acquiring an additional 2,184 shares during the period. Principal Financial Group Inc. grew its stake in Quanta Services by 5.6% during 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 period. Synovus Financial Corp grew its stake in Quanta Services by 34.0% during the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock worth $2,148,000 after purchasing an additional 1,830 shares during the period. Hennion & Walsh Asset Management Inc. lifted its stake in Quanta Services by 4.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 17,573 shares of the construction company’s stock valued at $5,554,000 after buying an additional 793 shares during the period. Finally, SeaBridge Investment Advisors LLC bought a new position in shares of Quanta Services during the 4th quarter worth approximately $1,754,000. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Price Performance

Quanta Services stock opened at $264.62 on Thursday. Quanta Services, Inc. has a 52 week low of $227.11 and a 52 week high of $365.88. The company’s 50 day moving average price is $277.57 and its two-hundred day moving average price is $304.58. The stock has a market cap of $39.22 billion, a P/E ratio of 43.88, a P/E/G ratio of 1.41 and a beta of 1.10. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The business had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. On average, equities analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.15%. Quanta Services’s dividend payout ratio (DPR) is presently 6.63%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PWR shares. Daiwa America lowered shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. Roth Mkm started coverage on shares of Quanta Services in a report on Friday, February 21st. They set a “buy” rating and a $350.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Guggenheim began coverage on Quanta Services in a research report on Wednesday, January 8th. They issued a “neutral” rating for the company. Finally, B. Riley reiterated a “neutral” rating and issued a $300.00 price target (down previously from $343.00) on shares of Quanta Services in a report on Wednesday, March 19th. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $326.79.

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.