Pitcairn Co. Sells 537 Shares of Quanta Services, Inc. (NYSE:PWR)

Pitcairn Co. cut its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 24.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,695 shares of the construction company’s stock after selling 537 shares during the period. Pitcairn Co.’s holdings in Quanta Services were worth $505,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PWR. EntryPoint Capital LLC purchased a new stake in shares of Quanta Services in the first quarter worth approximately $25,000. Lazard Asset Management LLC grew its holdings in Quanta Services by 71,012.5% during the first quarter. Lazard Asset Management LLC now owns 5,689 shares of the construction company’s stock worth $1,478,000 after buying an additional 5,681 shares in the last quarter. BOKF NA raised its position in Quanta Services by 25.4% in the 1st quarter. BOKF NA now owns 3,505 shares of the construction company’s stock valued at $909,000 after buying an additional 709 shares during the last quarter. SVB Wealth LLC lifted its stake in Quanta Services by 4.6% during the 1st quarter. SVB Wealth LLC now owns 1,445 shares of the construction company’s stock valued at $375,000 after acquiring an additional 63 shares in the last quarter. Finally, Bayesian Capital Management LP boosted its holdings in Quanta Services by 129.2% during the 1st quarter. Bayesian Capital Management LP now owns 5,244 shares of the construction company’s stock worth $1,362,000 after acquiring an additional 2,956 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on PWR shares. Northland Securities reiterated an “outperform” rating and issued a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. JPMorgan Chase & Co. started coverage on shares of Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 price objective for the company. UBS Group boosted their target price on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus increased their price target on Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Wolfe Research started coverage on Quanta Services in a research report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

Quanta Services Stock Performance

Shares of PWR stock opened at $342.99 on Tuesday. The firm’s 50 day moving average is $309.24 and its 200 day moving average is $280.37. The stock has a market capitalization of $50.63 billion, a P/E ratio of 63.27 and a beta of 1.01. Quanta Services, Inc. has a 12 month low of $180.97 and a 12 month high of $344.45. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same period last year, the company earned $2.08 earnings per share. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 7.88 earnings per share for the current year.

Quanta Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, January 2nd. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio is currently 7.38%.

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.