Cannell & Spears LLC Sells 2,754 Shares of Quanta Services, Inc. (NYSE:PWR)

Cannell & Spears LLC reduced its position in shares of Quanta Services, Inc. (NYSE:PWR) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,830 shares of the construction company’s stock after selling 2,754 shares during the quarter. Cannell & Spears LLC’s holdings in Quanta Services were worth $42,297,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PWR. Vanguard Group Inc. increased its stake in shares of Quanta Services by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock worth $5,375,828,000 after purchasing an additional 161,277 shares during the last quarter. State Street Corp raised its stake in Quanta Services by 1.6% in the third quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock valued at $1,713,956,000 after buying an additional 89,975 shares during the period. Geode Capital Management LLC lifted its position in shares of Quanta Services by 1.4% in the third quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company’s stock valued at $1,027,887,000 after buying an additional 46,357 shares during the last quarter. Norges Bank bought a new position in shares of Quanta Services during the 4th quarter worth approximately $544,937,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Quanta Services by 4.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,024,510 shares of the construction company’s stock worth $323,797,000 after acquiring an additional 45,486 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Down 0.3 %

NYSE PWR opened at $254.17 on Monday. The business has a fifty day moving average price of $283.07 and a two-hundred day moving average price of $305.05. The stock has a market capitalization of $37.67 billion, a PE ratio of 42.15, a PEG ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a fifty-two week low of $227.11 and a fifty-two week high of $365.88. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The business had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. Equities analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date of this dividend is Thursday, April 3rd. Quanta Services’s dividend payout ratio is 6.63%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PWR. Roth Capital raised Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. B. Riley restated a “neutral” rating and set a $300.00 target price (down previously from $343.00) on shares of Quanta Services in a research note on Wednesday, March 19th. Daiwa America lowered shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. Roth Mkm started coverage on shares of Quanta Services in a research report on Friday, February 21st. They set a “buy” rating and a $350.00 price objective for the company. Finally, Guggenheim started coverage on Quanta Services in a research report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $326.79.

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.