Petix & Botte Co Sells 290 Shares of Quanta Services, Inc. (NYSE:PWR)

Petix & Botte Co decreased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 5.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,754 shares of the construction company’s stock after selling 290 shares during the quarter. Petix & Botte Co’s holdings in Quanta Services were worth $1,503,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new position in shares of Quanta Services during the third quarter valued at $31,000. Prestige Wealth Management Group LLC bought a new stake in Quanta Services during the 3rd quarter worth about $30,000. Sound Income Strategies LLC lifted its position in Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after purchasing an additional 91 shares during the period. Versant Capital Management Inc boosted its stake in shares of Quanta Services by 62.5% in the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock valued at $37,000 after purchasing an additional 45 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of Quanta Services during the 3rd quarter worth approximately $41,000. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Up 0.8 %

NYSE:PWR opened at $357.55 on Monday. The company has a market cap of $52.78 billion, a PE ratio of 65.97 and a beta of 1.06. The stock has a 50-day simple moving average of $332.01 and a 200 day simple moving average of $300.23. 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 52-week low of $193.50 and a 52-week high of $365.88.

Quanta Services (NYSE:PWR) last posted 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. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The company 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 company earned $2.08 earnings per share. The firm’s revenue was up 15.5% compared to the same quarter last year. On average, sell-side analysts expect that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a $0.10 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.11%. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is currently 7.38%.

Analyst Ratings Changes

A number of equities analysts have issued reports on PWR shares. Stifel Nicolaus raised their price objective on shares of Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. TD Cowen lifted their price objective on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. began coverage on Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 target price on the stock. Citigroup upped their price target on Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Northland Securities reissued an “outperform” rating and set a $328.00 price objective (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and an average target price of $329.88.

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.