Quanta Services, Inc. (NYSE:PWR) Shares Sold by Sugarloaf Wealth Management LLC

Sugarloaf Wealth Management LLC decreased its stake in Quanta Services, Inc. (NYSE:PWR) by 6.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,636 shares of the construction company’s stock after selling 787 shares during the quarter. Sugarloaf Wealth Management LLC’s holdings in Quanta Services were worth $3,678,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Versor Investments LP acquired a new stake in Quanta Services in the 3rd quarter worth about $406,000. Principal Financial Group Inc. boosted its stake 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 acquiring an additional 11,012 shares during the last quarter. Asio Capital LLC purchased a new stake in shares of Quanta Services during the third quarter worth approximately $2,715,000. Waverton Investment Management Ltd raised its stake in Quanta Services by 6.5% in the 3rd quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock valued at $12,509,000 after purchasing an additional 2,557 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in Quanta Services by 4,701.7% during the 2nd quarter. Public Sector Pension Investment Board now owns 153,559 shares of the construction company’s stock worth $39,018,000 after purchasing an additional 150,361 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 0.5 %

Shares of NYSE:PWR traded up $1.63 during mid-day trading on Friday, reaching $313.83. 388,094 shares of the company were exchanged, compared to its average volume of 842,076. The firm has a market cap of $46.33 billion, a price-to-earnings ratio of 57.90 and a beta of 1.06. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. Quanta Services, Inc. has a 1 year low of $187.27 and a 1 year high of $350.19. The firm’s 50-day simple moving average is $328.05 and its 200 day simple moving average is $293.59.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (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 analyst estimates of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. Quanta Services’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.08 EPS. Equities research analysts forecast that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

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

Analyst Upgrades and Downgrades

PWR has been the topic of several research reports. Stifel Nicolaus raised their price target on shares of Quanta Services from $343.00 to $374.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. TD Cowen boosted their target price on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Northland Securities reaffirmed an “outperform” rating and issued a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Citigroup boosted their price objective on Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Wolfe Research began coverage on Quanta Services in a research note on Thursday, September 19th. They issued an “outperform” rating and a $313.00 target price for the company. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and an average price target of $324.25.

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.