Quanta Services, Inc. (NYSE:PWR) Holdings Lowered by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio trimmed its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 9.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 69,736 shares of the construction company’s stock after selling 7,479 shares during the period. Public Employees Retirement System of Ohio’s holdings in Quanta Services were worth $18,117,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. EntryPoint Capital LLC purchased a new stake in shares of Quanta Services during the first quarter valued at $25,000. Private Ocean LLC purchased a new stake in Quanta Services in the 1st quarter worth about $26,000. Salomon & Ludwin LLC purchased a new stake in Quanta Services in the 1st quarter worth about $26,000. Hazlett Burt & Watson Inc. lifted its stake in Quanta Services by 47.3% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after acquiring an additional 52 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Quanta Services in the 4th quarter worth about $34,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Up 1.1 %

Shares of PWR stock opened at $259.01 on Tuesday. The stock’s 50 day simple moving average is $266.66 and its 200 day simple moving average is $247.80. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $286.87. The company has a market capitalization of $37.92 billion, a price-to-earnings ratio of 49.66 and a beta of 1.03.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, May 2nd. The construction company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.14. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. The business had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $4.96 billion. As a group, research analysts predict that Quanta Services, Inc. will post 7.69 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Monday, July 1st were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend was Monday, July 1st. Quanta Services’s dividend payout ratio is currently 6.98%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PWR shares. The Goldman Sachs Group increased their price objective on Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Argus increased their price objective on Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Truist Financial reissued a “buy” rating and issued a $305.00 price objective (up from $301.00) on shares of Quanta Services in a research note on Monday, May 6th. Citigroup upped their target price on Quanta Services from $299.00 to $302.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, Evercore ISI upped their target price on Quanta Services from $255.00 to $288.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $273.75.

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.