Norris Perne & French LLP MI Sells 651 Shares of Quanta Services, Inc. (NYSE:PWR)

Norris Perne & French LLP MI reduced its stake in Quanta Services, Inc. (NYSE:PWR) by 0.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 76,472 shares of the construction company’s stock after selling 651 shares during the period. Quanta Services accounts for about 1.7% of Norris Perne & French LLP MI’s portfolio, making the stock its 21st largest position. Norris Perne & French LLP MI’s holdings in Quanta Services were worth $24,169,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PWR. Creative Planning grew its stake in shares of Quanta Services by 8.9% in the second quarter. Creative Planning now owns 20,700 shares of the construction company’s stock worth $5,260,000 after purchasing an additional 1,694 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Quanta Services by 8.8% in the second quarter. NewEdge Advisors LLC now owns 8,806 shares of the construction company’s stock worth $2,238,000 after acquiring an additional 714 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in Quanta Services by 3.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,525 shares of the construction company’s stock valued at $2,166,000 after purchasing an additional 300 shares during the period. Regal Investment Advisors LLC bought a new position in Quanta Services in the 2nd quarter worth $206,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Quanta Services during the 2nd quarter valued at about $10,183,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

PWR opened at $309.52 on Friday. The company’s 50-day simple moving average is $329.27 and its two-hundred day simple moving average is $300.65. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a market capitalization of $45.69 billion, a P/E ratio of 57.11, a P/E/G ratio of 1.49 and a beta of 1.06. Quanta Services, Inc. has a 52-week low of $193.52 and a 52-week high of $365.88.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.26. The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the company posted $2.08 earnings per share. As a group, analysts predict that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were issued a $0.10 dividend. This is an increase 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 yield of 0.13%. Quanta Services’s dividend payout ratio is currently 7.38%.

Analysts Set New Price Targets

Several analysts have commented on PWR shares. Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Stifel Nicolaus upped their price target on Quanta Services from $374.00 to $388.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. UBS Group raised their price objective on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Citigroup reduced their target price on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Bank of America initiated coverage on shares of Quanta Services in a report on Friday, January 24th. They issued a “buy” rating and a $407.00 price objective on the stock. Four 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $330.06.

About Quanta Services

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.