D.A. Davidson & CO. Reduces Stake in Quanta Services, Inc. (NYSE:PWR)

D.A. Davidson & CO. decreased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 1.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 64,531 shares of the construction company’s stock after selling 971 shares during the quarter. D.A. Davidson & CO.’s holdings in Quanta Services were worth $19,240,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PWR. Electron Capital Partners LLC boosted its stake in Quanta Services by 395.1% in the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after acquiring an additional 2,092,519 shares in the last quarter. Swedbank AB purchased a new stake in shares of Quanta Services in the 1st quarter valued at about $227,218,000. American Century Companies Inc. boosted its position in shares of Quanta Services by 1,445.3% in the 2nd quarter. American Century Companies Inc. now owns 395,152 shares of the construction company’s stock valued at $100,404,000 after purchasing an additional 369,581 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Quanta Services by 17.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock worth $313,968,000 after buying an additional 186,306 shares during the last quarter. Finally, National Bank of Canada FI increased its position in Quanta Services by 297.3% during the second quarter. National Bank of Canada FI now owns 215,914 shares of the construction company’s stock worth $53,455,000 after buying an additional 161,574 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Price Performance

Shares of NYSE PWR opened at $342.99 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. Quanta Services, Inc. has a one year low of $180.97 and a one year high of $344.45. The firm has a market capitalization of $50.63 billion, a P/E ratio of 63.28 and a beta of 1.01. The company’s fifty day moving average is $309.24 and its two-hundred day moving average is $280.37.

Quanta Services (NYSE:PWR) last released its quarterly earnings data 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 net margin of 3.54% and a return on equity of 16.71%. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter in the previous year, the firm earned $2.08 earnings per share. The firm’s revenue was up 15.5% on a year-over-year basis. Analysts forecast that Quanta Services, Inc. will post 7.88 EPS for the current fiscal year.

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, January 2nd will be paid a $0.10 dividend. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend is Thursday, January 2nd. Quanta Services’s dividend payout ratio (DPR) is presently 7.38%.

Analyst Upgrades and Downgrades

PWR has been the topic of a number of research reports. Northland Securities restated an “outperform” rating and set a $328.00 target price (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. B. Riley raised their price objective on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. UBS Group upped their target price on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. began coverage on Quanta Services in a report on Monday, October 7th. They set a “neutral” rating and a $297.00 price target on the stock. Finally, Jefferies Financial Group assumed coverage on Quanta Services in a research note on Wednesday, September 4th. They set a “hold” rating and a $256.00 price objective for the company. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $314.27.

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.