Quanta Services, Inc. (NYSE:PWR) Shares Sold by Guinness Atkinson Asset Management Inc

Guinness Atkinson Asset Management Inc lowered its holdings in Quanta Services, Inc. (NYSE:PWR) by 24.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,242 shares of the construction company’s stock after selling 398 shares during the quarter. Guinness Atkinson Asset Management Inc’s holdings in Quanta Services were worth $393,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp raised its stake in shares of Quanta Services by 1.6% during the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock valued at $1,713,956,000 after buying an additional 89,975 shares during the last quarter. Geode Capital Management LLC grew its holdings in Quanta Services by 1.4% during the third quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company’s stock worth $1,027,887,000 after acquiring an additional 46,357 shares during the period. Electron Capital Partners LLC raised its position in Quanta Services by 395.1% during 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Quanta Services by 4.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company’s stock valued at $316,055,000 after acquiring an additional 43,715 shares during the period. Finally, Swedbank AB boosted its position in Quanta Services by 4.6% in the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock worth $286,248,000 after purchasing an additional 42,579 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PWR. Truist Financial cut their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a report on Thursday. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Stifel Nicolaus increased their target price on shares of Quanta Services from $343.00 to $374.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Daiwa Capital Markets started coverage on Quanta Services in a research note on Friday, December 6th. They issued an “outperform” rating and a $355.00 price target for the company. Finally, UBS Group increased their price target on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Four equities research 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $324.19.

Quanta Services Trading Up 0.3 %

Shares of PWR stock opened at $337.10 on Monday. Quanta Services, Inc. has a fifty-two week low of $187.27 and a fifty-two week high of $350.19. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The stock’s fifty day moving average is $329.35 and its two-hundred day moving average is $296.78. The firm has a market capitalization of $49.76 billion, a P/E ratio of 62.20 and a beta of 1.06.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping the consensus estimate 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 period last year, the firm posted $2.08 earnings per share. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. Research analysts expect that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a $0.10 dividend. The ex-dividend date was Thursday, January 2nd. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio 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.