Northwest & Ethical Investments L.P. Sells 330 Shares of Quanta Services, Inc. (NYSE:PWR)

Northwest & Ethical Investments L.P. lessened its stake in Quanta Services, Inc. (NYSE:PWR) by 23.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,070 shares of the construction company’s stock after selling 330 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Quanta Services were worth $319,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Versor Investments LP bought a new position in Quanta Services during the third quarter valued at $406,000. Wealth Enhancement Advisory Services LLC raised its position in Quanta Services by 5.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock valued at $9,366,000 after purchasing an additional 1,981 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Quanta Services by 115.0% in the 1st quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock worth $10,203,000 after purchasing an additional 21,003 shares during the period. Czech National Bank increased its position in shares of Quanta Services by 8.9% during the 2nd quarter. Czech National Bank now owns 27,827 shares of the construction company’s stock valued at $7,071,000 after purchasing an additional 2,264 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Quanta Services by 892.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the construction company’s stock valued at $262,000 after buying an additional 910 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Price Performance

Quanta Services stock opened at $344.52 on Friday. The firm’s 50-day simple moving average is $315.72 and its 200 day simple moving average is $282.83. The firm has a market capitalization of $50.86 billion, a PE ratio of 63.56 and a beta of 1.01. Quanta Services, Inc. has a 52 week low of $186.18 and a 52 week high of $350.19. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same period in the previous year, the firm posted $2.08 EPS. Quanta Services’s revenue was up 15.5% on a year-over-year basis. On average, equities research analysts predict that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be given a $0.10 dividend. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.40 annualized dividend and a yield of 0.12%. Quanta Services’s dividend payout ratio (DPR) is 7.38%.

Wall Street Analyst Weigh In

PWR has been the topic of several recent analyst reports. Jefferies Financial Group assumed coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price target on the stock. TD Cowen increased their target price on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Truist Financial upped their price target on Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. UBS Group raised their price objective on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Citigroup upped their target price on Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $314.27.

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.