Prudential Financial Inc. Reduces Holdings in Quanta Services, Inc. (NYSE:PWR)

Prudential Financial Inc. cut its stake in Quanta Services, Inc. (NYSE:PWR) by 15.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 96,778 shares of the construction company’s stock after selling 17,950 shares during the quarter. Prudential Financial Inc.’s holdings in Quanta Services were worth $30,587,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Kestra Private Wealth Services LLC boosted its position in shares of Quanta Services by 85.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock valued at $1,502,000 after purchasing an additional 2,184 shares during the period. Principal Financial Group Inc. lifted its stake in Quanta Services by 5.6% in the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock valued at $61,932,000 after buying an additional 11,012 shares during the last quarter. Synovus Financial Corp boosted its holdings in shares of 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 during the period. Hennion & Walsh Asset Management Inc. grew its position in shares of Quanta Services by 4.7% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 17,573 shares of the construction company’s stock worth $5,554,000 after acquiring an additional 793 shares during the last quarter. Finally, SeaBridge Investment Advisors LLC acquired a new position in shares of Quanta Services in the 4th quarter valued at $1,754,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Trading Down 0.8 %

NYSE:PWR opened at $276.16 on Wednesday. Quanta Services, Inc. has a 52-week low of $227.11 and a 52-week high of $365.88. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The stock has a fifty day simple moving average of $287.74 and a 200-day simple moving average of $305.00. The company has a market capitalization of $40.93 billion, a PE ratio of 45.80, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10.

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

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend is Thursday, April 3rd. Quanta Services’s payout ratio is 6.63%.

Analysts Set New Price Targets

A number of analysts recently weighed in on PWR shares. Citigroup decreased their price target on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Daiwa Capital Markets lowered Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Roth Capital upgraded Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Bank of America initiated coverage on Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price target for the company. Finally, B. Riley reaffirmed a “neutral” rating and issued a $300.00 target price (down previously from $343.00) on shares of Quanta Services in a report on Wednesday, March 19th. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $326.79.

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.