New England Research & Management Inc. Sells 3,412 Shares of Quanta Services, Inc. (NYSE:PWR)

New England Research & Management Inc. trimmed its position in shares of Quanta Services, Inc. (NYSE:PWR) by 24.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,821 shares of the construction company’s stock after selling 3,412 shares during the period. Quanta Services comprises 1.7% of New England Research & Management Inc.’s portfolio, making the stock its 14th largest position. New England Research & Management Inc.’s holdings in Quanta Services were worth $3,420,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Webster Bank N. A. raised its stake in shares of Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. Legacy Investment Solutions LLC bought a new position in Quanta Services in the third quarter worth about $31,000. Prestige Wealth Management Group LLC bought a new position in Quanta Services in the third quarter worth about $30,000. Sound Income Strategies LLC raised its stake in Quanta Services by 700.0% in the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after buying an additional 91 shares in the last quarter. Finally, Versant Capital Management Inc raised 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 worth $37,000 after buying an additional 45 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Trading Up 1.6 %

Shares of PWR stock opened at $298.73 on Thursday. Quanta Services, Inc. has a 1 year low of $193.52 and a 1 year high of $365.88. The firm has a fifty day moving average price of $329.88 and a 200-day moving average price of $300.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The company has a market cap of $44.10 billion, a price-to-earnings ratio of 55.12 and a beta of 1.06.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data 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. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter in the previous year, the firm posted $2.08 EPS. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities analysts predict 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. Investors of record on Thursday, January 2nd were paid a dividend of $0.10 per share. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.13%. Quanta Services’s payout ratio is 7.38%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PWR shares. Bank of America started coverage on shares of Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 price target for the company. Truist Financial decreased 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 note on Thursday, January 16th. Northland Securities reaffirmed an “outperform” rating and set a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Daiwa Capital Markets started coverage on shares of Quanta Services in a research note on Friday, December 6th. They set an “outperform” rating and a $355.00 target price for the company. Finally, Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and an average price target of $330.06.

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.