Quanta Services, Inc. (NYSE:PWR) Stock Position Lowered by Bourne Lent Asset Management Inc.

Bourne Lent Asset Management Inc. lessened its stake in Quanta Services, Inc. (NYSE:PWRFree Report) by 3.1% in the fourth quarter, Holdings Channel reports. The fund owned 31,515 shares of the construction company’s stock after selling 1,005 shares during the quarter. Quanta Services makes up about 3.8% of Bourne Lent Asset Management Inc.’s holdings, making the stock its 8th biggest holding. Bourne Lent Asset Management Inc.’s holdings in Quanta Services were worth $9,960,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its stake in Quanta Services by 0.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 40,966 shares of the construction company’s stock valued at $12,947,000 after acquiring an additional 360 shares during the last quarter. Transform Wealth LLC grew its stake in Quanta Services by 6.2% during the 4th quarter. Transform Wealth LLC now owns 42,256 shares of the construction company’s stock worth $13,355,000 after buying an additional 2,471 shares during the last quarter. Alpha Cubed Investments LLC grew its position in shares of Quanta Services by 0.7% during the fourth quarter. Alpha Cubed Investments LLC now owns 188,333 shares of the construction company’s stock worth $59,523,000 after acquiring an additional 1,365 shares during the last quarter. First United Bank & Trust raised its holdings in shares of Quanta Services by 67.0% during the fourth quarter. First United Bank & Trust now owns 1,979 shares of the construction company’s stock valued at $625,000 after buying an additional 794 shares during the last quarter. Finally, Reliant Investment Management LLC lifted its holdings in Quanta Services by 0.8% in the fourth quarter. Reliant Investment Management LLC now owns 27,346 shares of the construction company’s stock worth $8,643,000 after purchasing an additional 205 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on PWR shares. JPMorgan Chase & Co. assumed coverage on Quanta Services in a report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price objective for the company. Northland Securities reiterated an “outperform” rating and issued a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. UBS Group boosted their price objective on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Daiwa America raised Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Finally, Robert W. Baird lifted their target price on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $324.19.

Check Out Our Latest Analysis on Quanta Services

Quanta Services Price Performance

NYSE:PWR opened at $358.12 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The company has a fifty day moving average price of $330.11 and a 200 day moving average price of $298.10. Quanta Services, Inc. has a one year low of $187.27 and a one year high of $358.72. The stock has a market cap of $52.86 billion, a P/E ratio of 66.07 and a beta of 1.06.

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

Quanta Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.10 per share. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.11%. The ex-dividend date was Thursday, January 2nd. Quanta Services’s payout ratio is 7.38%.

About Quanta Services

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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