Quanta Services, Inc. (NYSE:PWR) Stock Position Cut by NorthRock Partners LLC

NorthRock Partners LLC lessened its stake in Quanta Services, Inc. (NYSE:PWR) by 13.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 982 shares of the construction company’s stock after selling 150 shares during the period. NorthRock Partners LLC’s holdings in Quanta Services were worth $255,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Private Ocean LLC purchased a new stake in shares of Quanta Services in the first quarter worth approximately $26,000. Salomon & Ludwin LLC bought a new position in Quanta Services during the first quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. raised its position in Quanta Services by 47.3% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after acquiring an additional 52 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new position in Quanta Services during the fourth quarter valued at approximately $34,000. Finally, Valley National Advisers Inc. bought a new position in Quanta Services during the fourth quarter valued at approximately $41,000. Institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Citigroup increased their price target on Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Argus increased their price target on Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, May 30th. DA Davidson increased their price target on Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Robert W. Baird raised their price objective on shares of Quanta Services from $265.00 to $287.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Finally, The Goldman Sachs Group raised their price objective on shares of Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $272.25.

Quanta Services Stock Performance

PWR stock traded down $11.57 during midday trading on Monday, hitting $257.24. The stock had a trading volume of 1,258,291 shares, compared to its average volume of 929,850. The firm has a market capitalization of $37.66 billion, a price-to-earnings ratio of 49.85 and a beta of 1.03. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $286.87. The stock has a 50-day simple moving average of $268.58 and a 200 day simple moving average of $244.17. 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 issued its earnings results on Thursday, May 2nd. The construction company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.09 by $0.14. The firm had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $4.96 billion. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. As a group, equities research analysts anticipate that Quanta Services, Inc. will post 7.69 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Monday, July 1st were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, July 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. Quanta Services’s payout ratio is presently 6.98%.

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.