CFM Wealth Partners LLC Sells 327 Shares of Quanta Services, Inc. (NYSE:PWR)

CFM Wealth Partners LLC trimmed its holdings in Quanta Services, Inc. (NYSE:PWR) by 6.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,485 shares of the construction company’s stock after selling 327 shares during the period. CFM Wealth Partners LLC’s holdings in Quanta Services were worth $1,417,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Versor Investments LP bought a new position in shares of Quanta Services during the third quarter valued at about $406,000. Principal Financial Group Inc. lifted its position in shares of Quanta Services by 5.6% during the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock valued at $61,932,000 after purchasing an additional 11,012 shares in the last quarter. Asio Capital LLC bought a new position in shares of Quanta Services during the third quarter valued at about $2,715,000. Synovus Financial Corp lifted its position in shares of Quanta Services by 34.0% during the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after purchasing an additional 1,830 shares in the last quarter. Finally, Waverton Investment Management Ltd lifted its position in shares of Quanta Services by 6.5% during the third 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 in the last quarter. 90.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PWR. Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Truist Financial decreased their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a report on Thursday, January 16th. UBS Group lifted their target price on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Northland Securities restated 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. Finally, 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. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and an average price target of $330.06.

Quanta Services Price Performance

NYSE PWR opened at $308.10 on Monday. Quanta Services, Inc. has a 12 month low of $193.52 and a 12 month high of $365.88. The stock has a market cap of $45.48 billion, a price-to-earnings ratio of 56.85, a PEG ratio of 1.54 and a beta of 1.05. The company’s 50 day moving average is $328.59 and its two-hundred day moving average is $301.69. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last released 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. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter last year, the business earned $2.08 EPS. The firm’s revenue was up 15.5% compared to the same quarter last year. As a group, research analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.13%. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio (DPR) is presently 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.