Quanta Services (NYSE:PWR) Stock Price Down 5.2%

Quanta Services, Inc. (NYSE:PWR) shares were down 5.2% on Friday . The stock traded as low as $252.95 and last traded at $253.18. Approximately 1,007,984 shares were traded during trading, an increase of 9% from the average daily volume of 928,878 shares. The stock had previously closed at $267.06.

Analyst Upgrades and Downgrades

PWR has been the subject of a number of research analyst reports. B. Riley increased their target price on shares of Quanta Services from $246.00 to $286.00 and gave the company a “buy” rating in a report on Friday, May 3rd. DA Davidson boosted their target price on Quanta Services from $225.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. Argus lifted their price target on Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. The Goldman Sachs Group raised their target price on shares of Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Finally, Robert W. Baird increased their price target on shares of Quanta Services from $265.00 to $287.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $268.85.

Quanta Services Price Performance

The stock has a market capitalization of $37.19 billion, a PE ratio of 51.76 and a beta of 1.05. The company’s 50 day simple moving average is $268.58 and its 200 day simple moving average is $240.17. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, May 2nd. The construction company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.14. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. The business had revenue of $5.03 billion during the quarter, compared to the consensus estimate of $4.96 billion. On average, equities analysts anticipate that Quanta Services, Inc. will post 7.69 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Monday, July 1st will be given a $0.09 dividend. The ex-dividend date is Monday, July 1st. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio is presently 6.98%.

Institutional Trading of Quanta Services

Several institutional investors have recently made changes to their positions in PWR. Artisan Partners Limited Partnership boosted its holdings in Quanta Services by 384.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock valued at $526,261,000 after acquiring an additional 1,935,786 shares during the last quarter. Norges Bank acquired a new position in shares of Quanta Services in the 4th quarter valued at about $335,777,000. Public Employees Retirement Association of Colorado increased its position in Quanta Services by 20,298.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,057,681 shares of the construction company’s stock worth $228,248,000 after purchasing an additional 1,052,496 shares in the last quarter. Nordea Investment Management AB raised its holdings in Quanta Services by 8,297.7% in the fourth quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock valued at $196,205,000 after buying an additional 901,548 shares during the period. Finally, Swedbank AB acquired a new position in Quanta Services during the first quarter valued at approximately $227,218,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

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.