HighPoint Advisor Group LLC Sells 554 Shares of Quanta Services, Inc. (NYSE:PWR)

HighPoint Advisor Group LLC decreased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 8.9% during the fourth quarter, HoldingsChannel reports. The firm owned 5,636 shares of the construction company’s stock after selling 554 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Quanta Services were worth $1,707,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Quanta Services by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock worth $5,375,828,000 after acquiring an additional 161,277 shares during the period. State Street Corp grew its stake in Quanta Services by 1.6% in the third quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock worth $1,713,956,000 after purchasing an additional 89,975 shares during the period. Geode Capital Management LLC raised its holdings in Quanta Services by 1.4% in 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 purchasing an additional 46,357 shares in the last quarter. Norges Bank purchased a new position in Quanta Services during the fourth quarter valued at $544,937,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Quanta Services by 4.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,024,510 shares of the construction company’s stock valued at $323,797,000 after buying an additional 45,486 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

NYSE PWR opened at $254.76 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. Quanta Services, Inc. has a 1-year low of $227.11 and a 1-year high of $365.88. The stock has a market capitalization of $37.75 billion, a price-to-earnings ratio of 42.25, a PEG ratio of 1.41 and a beta of 1.10. The business’s fifty day moving average price is $281.43 and its 200-day moving average price is $304.95.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The business had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. On average, equities analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be given a $0.10 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.16%. Quanta Services’s payout ratio is presently 6.63%.

Analyst Ratings Changes

A number of research analysts recently issued reports on PWR shares. Guggenheim started coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating for the company. Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Bank of America initiated coverage on Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 price target on the stock. Stifel Nicolaus dropped their target price on Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a report on Monday, February 24th. Finally, Citigroup reduced their price target on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $326.79.

Quanta Services 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.