Segment Wealth Management LLC Sells 40,940 Shares of Quanta Services, Inc. (NYSE:PWR)

Segment Wealth Management LLC lowered its holdings in Quanta Services, Inc. (NYSE:PWR) by 67.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,902 shares of the construction company’s stock after selling 40,940 shares during the quarter. Segment Wealth Management LLC’s holdings in Quanta Services were worth $6,290,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Prestige Wealth Management Group LLC purchased a new stake in Quanta Services during the third quarter worth $30,000. Legacy Investment Solutions LLC purchased a new stake in shares of Quanta Services during the 3rd quarter worth $31,000. Versant Capital Management Inc grew its stake in Quanta Services by 62.5% in the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock valued at $37,000 after purchasing an additional 45 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new position in Quanta Services in the third quarter worth about $41,000. Finally, Eastern Bank purchased a new stake in shares of Quanta Services during the third quarter valued at about $44,000. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Truist Financial reduced their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Robert W. Baird increased their price objective on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a report on Friday, November 1st. JPMorgan Chase & Co. initiated coverage on Quanta Services in a research report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price objective for the company. Daiwa Capital Markets started coverage on Quanta Services in a research report on Friday, December 6th. They set an “outperform” rating and a $355.00 target price on the stock. Finally, Northland Securities reaffirmed an “outperform” rating and issued a $328.00 price objective (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $324.19.

Quanta Services Trading Up 0.3 %

NYSE PWR opened at $337.10 on Tuesday. The company has a fifty day moving average of $329.50 and a 200 day moving average of $297.36. The company has a market capitalization of $49.76 billion, a PE ratio of 62.20 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.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping 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 return on equity of 16.71% and a net margin of 3.54%. The company’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.08 earnings per share. Research analysts forecast that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.10 per share. 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. The ex-dividend date of this dividend was Thursday, January 2nd. Quanta Services’s payout ratio is 7.38%.

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.