Fmr LLC Sells 276,596 Shares of Quanta Services, Inc. (NYSE:PWR)

Fmr LLC reduced its stake in Quanta Services, Inc. (NYSE:PWR) by 5.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,025,021 shares of the construction company’s stock after selling 276,596 shares during the quarter. Fmr LLC owned 3.40% of Quanta Services worth $1,588,158,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew 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 acquiring an additional 161,277 shares in the last quarter. Geode Capital Management LLC grew its position in Quanta Services by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company’s stock valued at $1,121,830,000 after purchasing an additional 99,416 shares in the last quarter. Norges Bank acquired a new stake in Quanta Services in the 4th quarter valued at $544,937,000. Bank of New York Mellon Corp lifted its position in 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 buying an additional 45,486 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Quanta Services by 4.4% during the 4th quarter. Franklin Resources Inc. now owns 970,722 shares of the construction company’s stock worth $306,797,000 after buying an additional 41,309 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. BMO Capital Markets upgraded Quanta Services from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $338.00 to $316.00 in a report on Tuesday, February 25th. Stifel Nicolaus cut their price objective on Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a report on Monday, February 24th. Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Citigroup cut their price target on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Finally, Roth Mkm started coverage on shares of Quanta Services in a research note on Friday, February 21st. They set a “buy” rating and a $350.00 price objective on the stock. Seven 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $326.79.

Quanta Services Stock Down 5.0 %

Shares of PWR opened at $239.50 on Monday. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $35.49 billion, a PE ratio of 39.72, a P/E/G ratio of 1.41 and a beta of 1.04. The firm’s 50 day moving average is $273.15 and its 200-day moving average is $304.43. Quanta Services, Inc. has a 12 month low of $227.11 and a 12 month high of $365.88.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. The firm had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. Equities research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.17%. The ex-dividend date of this dividend is Thursday, April 3rd. Quanta Services’s dividend payout ratio is currently 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.