AMI Asset Management Corp Reduces Stake in Quanta Services, Inc. (NYSE:PWR)

AMI Asset Management Corp decreased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 2.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 226,567 shares of the construction company’s stock after selling 5,203 shares during the period. Quanta Services comprises approximately 3.8% of AMI Asset Management Corp’s portfolio, making the stock its 7th biggest holding. AMI Asset Management Corp’s holdings in Quanta Services were worth $71,607,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. State Street Corp raised its position in shares of Quanta Services by 1.6% during 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 boosted its position in shares of 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 buying 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 buying an additional 2,092,519 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Quanta Services by 4.3% in the 3rd 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 worth $316,055,000 after acquiring an additional 43,715 shares in the last quarter. Finally, Swedbank AB boosted its position in Quanta Services by 4.6% during the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock worth $286,248,000 after acquiring an additional 42,579 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Trading Up 0.3 %

Shares of NYSE:PWR opened at $337.10 on Tuesday. 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 50-day moving average is $329.50 and its 200-day moving average is $297.36. The company has a market cap of $49.76 billion, a P/E ratio of 62.20 and a beta of 1.06. Quanta Services, Inc. has a 52-week low of $187.27 and a 52-week high of $350.19.

Quanta Services (NYSE:PWR) last released its earnings results 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 return on equity of 16.71% and a net margin of 3.54%. The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same quarter last year, the firm posted $2.08 EPS. The company’s revenue was up 15.5% on a year-over-year basis. Equities research analysts predict that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.10 per share. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. Quanta Services’s payout ratio is presently 7.38%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Citigroup boosted their price objective on shares of Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Robert W. Baird increased their price objective on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Guggenheim initiated coverage on Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating on the stock. Daiwa Capital Markets began coverage on Quanta Services in a research note on Friday, December 6th. They set an “outperform” rating and a $355.00 price target for the company. Finally, Stifel Nicolaus boosted their price target on Quanta Services from $343.00 to $374.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Four 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 company’s stock. According to data from MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and a consensus target price of $324.19.

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.