Kentucky Retirement Systems Reduces Stock Position in Quanta Services, Inc. (NYSE:PWR)

Kentucky Retirement Systems lowered its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 5.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,033 shares of the construction company’s stock after selling 591 shares during the quarter. Kentucky Retirement Systems’ holdings in Quanta Services were worth $2,866,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Wedmont Private Capital lifted its holdings in shares of Quanta Services by 1.0% in the 1st quarter. Wedmont Private Capital now owns 4,674 shares of the construction company’s stock worth $1,198,000 after buying an additional 47 shares during the period. Hazlett Burt & Watson Inc. lifted its holdings in shares of Quanta Services by 47.3% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after buying an additional 52 shares during the period. Checchi Capital Advisers LLC lifted its holdings in shares of Quanta Services by 4.6% in the 4th quarter. Checchi Capital Advisers LLC now owns 1,367 shares of the construction company’s stock worth $295,000 after buying an additional 60 shares during the period. Tower Wealth Partners Inc. lifted its holdings in shares of Quanta Services by 6.3% in the 1st quarter. Tower Wealth Partners Inc. now owns 1,040 shares of the construction company’s stock worth $270,000 after buying an additional 62 shares during the period. Finally, Wellington Shields Capital Management LLC lifted its holdings in shares of Quanta Services by 0.4% in the 1st quarter. Wellington Shields Capital Management LLC now owns 18,599 shares of the construction company’s stock worth $4,832,000 after buying an additional 65 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

NYSE PWR traded down $1.69 during mid-day trading on Monday, reaching $255.04. 235,431 shares of the stock were exchanged, compared to its average volume of 941,472. The business’s 50 day moving average is $266.89 and its 200-day moving average is $247.42. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $286.87. The company has a market capitalization of $37.34 billion, a P/E ratio of 50.11 and a beta of 1.03. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, May 2nd. The construction company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.14. The firm had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $4.96 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. On average, equities research analysts forecast that Quanta Services, Inc. will post 7.69 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Monday, July 1st were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend was Monday, July 1st. Quanta Services’s dividend payout ratio (DPR) is 6.98%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PWR. Robert W. Baird upped their target price on Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. DA Davidson boosted their price target on Quanta Services from $225.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. Truist Financial reissued a “buy” rating and issued a $305.00 price target (up from $301.00) on shares of Quanta Services in a research report on Monday, May 6th. Argus boosted their price target on Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Finally, B. Riley boosted their price target on Quanta Services from $246.00 to $286.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $273.75.

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.