Burney Co. Sells 440 Shares of Quanta Services, Inc. (NYSE:PWR)

Burney Co. cut its position in Quanta Services, Inc. (NYSE:PWR) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,280 shares of the construction company’s stock after selling 440 shares during the quarter. Burney Co.’s holdings in Quanta Services were worth $5,461,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Versor Investments LP bought a new stake in Quanta Services in the 3rd quarter valued at about $406,000. Principal Financial Group Inc. raised its position in shares of Quanta Services by 5.6% in the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock valued at $61,932,000 after purchasing an additional 11,012 shares during the period. Asio Capital LLC purchased a new stake in shares of Quanta Services during the 3rd quarter valued at approximately $2,715,000. Waverton Investment Management Ltd boosted its holdings in Quanta Services by 6.5% in the 3rd quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock worth $12,509,000 after buying an additional 2,557 shares during the period. Finally, Synovus Financial Corp grew its stake in Quanta Services by 34.0% in the 3rd quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after buying an additional 1,830 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

PWR has been the topic of several recent research reports. Robert W. Baird increased their target price on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Guggenheim started coverage on Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating on the stock. Daiwa America raised Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Northland Securities reissued an “outperform” rating and issued a $328.00 price target (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Finally, Daiwa Capital Markets initiated coverage on shares of Quanta Services in a research note on Friday, December 6th. They set an “outperform” rating and a $355.00 price objective for the company. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and a consensus price target of $324.25.

Quanta Services Stock Performance

NYSE PWR opened at $326.33 on Wednesday. Quanta Services, Inc. has a 52-week low of $187.27 and a 52-week high of $350.19. The company has a fifty day moving average of $328.56 and a 200-day moving average of $295.00. The company has a market capitalization of $48.17 billion, a P/E ratio of 60.21 and a beta of 1.06. 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 (NYSE:PWR) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.26. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates 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 was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.08 earnings per share. As a group, equities research analysts predict that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This is an increase 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 (DPR) is 7.38%.

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.