Anderson Hoagland & Co. decreased its stake in Quanta Services, Inc. (NYSE:PWR) by 1.6% in the second quarter, according to the company’s most recent Securities and Exchange Commission filing. The investment firm now owns 19,192 shares of the construction company’s stock, valued at approximately $3.77 million.
Other hedge funds and institutional investors have also made changes to their positions in PWR. Vanguard Personalized Indexing Management LLC raised its position by 2.3% during the fourth quarter, now owning 16,592 shares. Seeyond increased its stake by 33.5% in the same period, now owning 4,678 shares. Lagoda Investment Management L.P. increased its holdings by 17.1% in the first quarter, while Raymond James Financial Services Advisors Inc. raised its position by 6.7% during the same quarter. Finally, Everhart Financial Group Inc. lifted its holdings by 12.5% in the first quarter. Institutional investors now own 87.86% of Quanta Services.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on Quanta Services. DA Davidson increased their price objective from $170.00 to $190.00 and gave the company a “neutral” rating. Citigroup also raised their target price from $192.00 to $234.00 and gave the company a “buy” rating. Northland Securities boosted their price target from $190.00 to $210.00. According to MarketBeat, Quanta Services currently holds an average rating of “Moderate Buy” and an average price target of $205.27.
In other news, EVP Donald Wayne recently sold 5,000 shares of Quanta Services stock. The shares were sold at an average price of $210.92, for a total transaction value of $1,054,600.00. Insider ownership stands at 1.20% of the company’s stock.
Quanta Services is currently trading at $200.08, with a 52-week low of $123.25 and a 52-week high of $212.82. The company’s current ratio is 1.68 and its quick ratio is 1.64. Quanta Services has a market cap of $29.05 billion, a P/E ratio of 51.73, and a beta of 1.08. Its 50-day moving average price is $203.23 and its 200-day moving average price is $182.66.
Quanta Services reported earnings per share of $1.47 for the quarter, missing analysts’ consensus estimates of $1.53. The company had a return on equity of 15.48% and a net margin of 3.16%. Quanta Services anticipates posting earnings per share of 6.47 for the current year.
Quanta Services recently announced a quarterly dividend of $0.08 per share, payable on October 13th, 2021. Stockholders of record on October 2nd will receive the dividend. This represents an annualized dividend of $0.32 and a dividend yield of 0.16%. The ex-dividend date of this dividend is September 29th. The dividend payout ratio currently stands at 8.16%.
Quanta Services, Inc. provides infrastructure solutions for various industries such as electric and gas utilities, renewable energy, communications, and pipeline and energy. The company’s services include the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure, installation and maintenance of smart grid technologies, and design and installation of commercial and industrial wirings.
Sources:
– Markets insider
– MarketBeat
– Securities and Exchange Commission