TD Private Client Wealth LLC Sells 383 Shares of Quanta Services, Inc. (NYSE:PWR)

TD Private Client Wealth LLC decreased its stake in Quanta Services, Inc. (NYSE:PWR) by 17.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,791 shares of the construction company’s stock after selling 383 shares during the period. TD Private Client Wealth LLC’s holdings in Quanta Services were worth $566,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Raymond James Trust N.A. grew its position in Quanta Services by 25.5% during the third quarter. Raymond James Trust N.A. now owns 4,408 shares of the construction company’s stock valued at $1,314,000 after acquiring an additional 897 shares during the last quarter. Kingsview Wealth Management LLC grew its holdings in shares of Quanta Services by 3.7% during the 3rd quarter. Kingsview Wealth Management LLC now owns 8,618 shares of the construction company’s stock valued at $2,569,000 after purchasing an additional 304 shares during the last quarter. Centaurus Financial Inc. raised its position in Quanta Services by 35.1% in the 3rd quarter. Centaurus Financial Inc. now owns 1,488 shares of the construction company’s stock worth $444,000 after purchasing an additional 387 shares during the period. Daiwa Securities Group Inc. boosted its position in Quanta Services by 11.6% during the third quarter. Daiwa Securities Group Inc. now owns 67,522 shares of the construction company’s stock valued at $20,132,000 after buying an additional 7,010 shares during the period. Finally, Fisher Asset Management LLC bought a new position in shares of Quanta Services during the third quarter valued at about $211,000. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Performance

Shares of PWR stock opened at $279.21 on Tuesday. The company’s fifty day moving average price is $288.60 and its 200-day moving average price is $304.81. The stock has a market cap of $41.38 billion, a PE ratio of 46.30, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 12 month low of $227.11 and a 12 month high of $365.88.

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 analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. On average, equities analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date is Thursday, April 3rd. Quanta Services’s payout ratio is 6.63%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PWR. Bank of America started coverage on Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 target price for the company. Guggenheim initiated coverage on shares of Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Roth Mkm began coverage on shares of Quanta Services in a report on Friday, February 21st. They set a “buy” rating and a $350.00 price target for the company. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Finally, Stifel Nicolaus lowered their price objective on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Seven 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, the company presently has an average rating of “Moderate Buy” and an average price target of $326.79.

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.