Monarch Capital Management Inc. Sells 1,064 Shares of Quanta Services, Inc. (NYSE:PWR)

Monarch Capital Management Inc. decreased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 4.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,020 shares of the construction company’s stock after selling 1,064 shares during the period. Quanta Services accounts for about 2.1% of Monarch Capital Management Inc.’s investment portfolio, making the stock its 16th largest position. Monarch Capital Management Inc.’s holdings in Quanta Services were worth $7,592,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. HB Wealth Management LLC grew its holdings in Quanta Services by 0.9% during the 4th quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock valued at $1,050,000 after buying an additional 31 shares in the last quarter. Resurgent Financial Advisors LLC grew its stake in Quanta Services by 0.7% during the third quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock valued at $1,423,000 after acquiring an additional 33 shares in the last quarter. Tower Wealth Partners Inc. increased its holdings in shares of Quanta Services by 3.1% in the 3rd quarter. Tower Wealth Partners Inc. now owns 1,122 shares of the construction company’s stock worth $335,000 after buying an additional 34 shares during the last quarter. Huntington National Bank raised its position in shares of Quanta Services by 2.9% during the 3rd quarter. Huntington National Bank now owns 1,240 shares of the construction company’s stock valued at $370,000 after buying an additional 35 shares in the last quarter. Finally, Terra Nova Asset Management LLC grew its position in Quanta Services by 0.3% in the third quarter. Terra Nova Asset Management LLC now owns 12,779 shares of the construction company’s stock worth $3,810,000 after acquiring an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

PWR has been the subject of several analyst reports. Northland Securities reaffirmed an “outperform” rating and issued a $328.00 price objective (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. UBS Group raised their price target on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Daiwa Capital Markets began coverage on shares of Quanta Services in a research report on Friday, December 6th. They set an “outperform” rating and a $355.00 price objective on the stock. Guggenheim initiated coverage on shares of Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating for the company. Finally, Stifel Nicolaus upped their price target on shares of Quanta Services from $343.00 to $374.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $324.19.

Quanta Services Trading Up 0.3 %

NYSE:PWR opened at $337.10 on Friday. The stock has a market capitalization of $49.76 billion, a price-to-earnings 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. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The firm has a 50 day moving average of $329.35 and a 200 day moving average of $296.48.

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, topping the consensus estimate of $2.46 by $0.26. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the company earned $2.08 earnings per share. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is currently 7.38%.

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.