Ilmarinen Mutual Pension Insurance Co Sells 300 Shares of Quanta Services, Inc. (NYSE:PWR)

Ilmarinen Mutual Pension Insurance Co reduced its position in Quanta Services, Inc. (NYSE:PWR) by 1.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,700 shares of the construction company’s stock after selling 300 shares during the quarter. Ilmarinen Mutual Pension Insurance Co’s holdings in Quanta Services were worth $7,490,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. grew its position in Quanta Services by 0.5% during the fourth quarter. Russell Investments Group Ltd. now owns 69,126 shares of the construction company’s stock valued at $21,926,000 after acquiring an additional 378 shares during the last quarter. Hurley Capital LLC purchased a new stake in shares of Quanta Services in the 4th quarter valued at $75,000. Wedbush Securities Inc. grew its holdings in shares of Quanta Services by 157.1% during the 4th quarter. Wedbush Securities Inc. now owns 2,149 shares of the construction company’s stock valued at $679,000 after purchasing an additional 1,313 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Quanta Services by 11.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 186,693 shares of the construction company’s stock worth $59,004,000 after purchasing an additional 18,548 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC bought a new stake in Quanta Services in the fourth quarter worth $1,746,000. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Truist Financial decreased their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. BMO Capital Markets upgraded Quanta Services from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $338.00 to $316.00 in a research report on Tuesday, February 25th. B. Riley restated a “neutral” rating and issued a $300.00 target price (down previously from $343.00) on shares of Quanta Services in a report on Wednesday, March 19th. Bank of America began coverage on shares of Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price target on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $326.79.

Quanta Services Trading Down 5.0 %

Shares of NYSE PWR opened at $239.50 on Friday. The stock has a market cap of $35.49 billion, a P/E ratio of 39.72, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. 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, Inc. has a 1 year low of $227.11 and a 1 year high of $365.88. The firm has a 50-day moving average of $273.15 and a 200 day moving average of $304.21.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. As a group, sell-side analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.17%. The ex-dividend date of this dividend is Thursday, April 3rd. Quanta Services’s dividend payout ratio is presently 6.63%.

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.