Ritter Daniher Financial Advisory LLC DE Sells 122 Shares of Quanta Services, Inc. (NYSE:PWR)

Ritter Daniher Financial Advisory LLC DE reduced its holdings in Quanta Services, Inc. (NYSE:PWR) by 15.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 681 shares of the construction company’s stock after selling 122 shares during the quarter. Ritter Daniher Financial Advisory LLC DE’s holdings in Quanta Services were worth $215,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PWR. Kestra Private Wealth Services LLC boosted its holdings in Quanta Services by 85.0% in the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock valued at $1,502,000 after acquiring an additional 2,184 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Quanta Services by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock valued at $61,932,000 after purchasing an additional 11,012 shares during the last quarter. Synovus Financial Corp raised its stake in Quanta Services by 34.0% during the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock worth $2,148,000 after buying an additional 1,830 shares during the last quarter. Allstate Corp acquired a new position in Quanta Services in the fourth quarter valued at $1,357,000. Finally, Hennion & Walsh Asset Management Inc. boosted its position in Quanta Services by 4.7% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 17,573 shares of the construction company’s stock valued at $5,554,000 after acquiring an additional 793 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PWR shares. Truist Financial dropped their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Roth Capital upgraded Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Guggenheim started coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. upped their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Finally, Bank of America began coverage on Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Quanta Services has an average rating of “Moderate Buy” and an average price target of $326.79.

Quanta Services Price Performance

Shares of NYSE PWR opened at $239.50 on Friday. The stock’s 50 day moving average price is $273.15 and its 200-day moving average price is $304.21. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a twelve month low of $227.11 and a twelve month high of $365.88. The company has a market capitalization of $35.49 billion, a PE ratio of 39.72, a PEG ratio of 1.41 and a beta of 1.04.

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

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date is Thursday, April 3rd. Quanta Services’s dividend payout ratio is currently 6.63%.

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.