ARS Investment Partners LLC Sells 400 Shares of Quanta Services, Inc. (NYSE:PWR)

ARS Investment Partners LLC trimmed its holdings in Quanta Services, Inc. (NYSE:PWR) by 8.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,414 shares of the construction company’s stock after selling 400 shares during the period. ARS Investment Partners LLC’s holdings in Quanta Services were worth $1,395,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PWR. Electron Capital Partners LLC grew its position 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 worth $666,260,000 after acquiring an additional 2,092,519 shares in the last quarter. Alkeon Capital Management LLC grew its position in Quanta Services by 62.5% in the third quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock worth $193,798,000 after acquiring an additional 250,000 shares in the last quarter. Public Sector Pension Investment Board lifted its stake in shares of Quanta Services by 4,701.7% in the second quarter. Public Sector Pension Investment Board now owns 153,559 shares of the construction company’s stock worth $39,018,000 after buying an additional 150,361 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Quanta Services by 29,655.3% in the third quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company’s stock worth $44,269,000 after buying an additional 147,980 shares during the last quarter. Finally, Meitav Investment House Ltd. acquired a new stake in shares of Quanta Services in the third quarter worth $27,430,000. 90.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PWR. Northland Securities restated an “outperform” rating and issued a $328.00 price objective (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Stifel Nicolaus upped their target price on shares of Quanta Services from $343.00 to $374.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Citigroup upped their target price on shares of Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. initiated coverage on shares of Quanta Services in a research note on Monday, October 7th. They set a “neutral” rating and a $297.00 target price for the company. Finally, TD Cowen upped their target price on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $324.19.

Quanta Services Price Performance

Shares of PWR opened at $337.10 on Tuesday. Quanta Services, Inc. has a 52-week low of $187.27 and a 52-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 business’s 50 day moving average price is $329.50 and its two-hundred day moving average price is $297.36. The firm has a market cap of $49.76 billion, a PE ratio of 62.20 and a beta of 1.06.

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

Quanta Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. 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. Quanta Services’s dividend payout ratio is 7.38%.

About Quanta Services

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.