Monarch Capital Management Inc. Sells 1,064 Shares of Quanta Services, Inc. (NYSE:PWR)

Monarch Capital Management Inc. cut its holdings in Quanta Services, Inc. (NYSE:PWR) by 4.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,020 shares of the construction company’s stock after selling 1,064 shares during the period. Quanta Services makes up 2.1% of Monarch Capital Management Inc.’s portfolio, making the stock its 16th largest position. Monarch Capital Management Inc.’s holdings in Quanta Services were worth $7,592,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Oppenheimer Asset Management Inc. grew its holdings in shares of Quanta Services by 26.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 1,255 shares of the construction company’s stock worth $319,000 after purchasing an additional 262 shares during the last quarter. Axxcess Wealth Management LLC grew its holdings in Quanta Services by 98.3% in the 2nd quarter. Axxcess Wealth Management LLC now owns 1,892 shares of the construction company’s stock worth $481,000 after acquiring an additional 938 shares during the last quarter. Blair William & Co. IL increased its position in shares of Quanta Services by 9.1% in the second quarter. Blair William & Co. IL now owns 25,202 shares of the construction company’s stock valued at $6,403,000 after acquiring an additional 2,111 shares during the period. First Eagle Investment Management LLC raised its stake in shares of Quanta Services by 56.4% during the second quarter. First Eagle Investment Management LLC now owns 3,493 shares of the construction company’s stock valued at $888,000 after acquiring an additional 1,260 shares during the last quarter. Finally, XTX Topco Ltd boosted its holdings in shares of Quanta Services by 31.6% during the second quarter. XTX Topco Ltd now owns 1,872 shares of the construction company’s stock worth $476,000 after purchasing an additional 449 shares during the period. 90.49% of the stock is owned by institutional investors.

Quanta Services Price Performance

Shares of NYSE PWR opened at $337.10 on Friday. The firm has a market cap of $49.76 billion, a P/E ratio of 62.20 and a beta of 1.06. Quanta Services, Inc. has a twelve month low of $187.27 and a twelve month high of $350.19. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average of $329.35 and a 200 day moving average of $296.48.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.08 EPS. As a group, research analysts expect that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is presently 7.38%.

Wall Street Analyst Weigh In

Several research firms have weighed in on PWR. Stifel Nicolaus increased their price objective on Quanta Services from $343.00 to $374.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Robert W. Baird boosted their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Truist Financial dropped their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday. Finally, UBS Group boosted their price target on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $324.19.

Quanta Services 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.