Swedbank AB Sells 164,437 Shares of Quanta Services, Inc. (NYSE:PWR)

Swedbank AB cut its position in Quanta Services, Inc. (NYSE:PWR) by 17.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 795,644 shares of the construction company’s stock after selling 164,437 shares during the quarter. Swedbank AB’s holdings in Quanta Services were worth $251,463,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Webster Bank N. A. grew its position in shares of Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Prestige Wealth Management Group LLC bought a new stake in Quanta Services during the 3rd quarter valued at approximately $30,000. Legacy Investment Solutions LLC acquired a new stake in Quanta Services in the 3rd quarter valued at approximately $31,000. Sound Income Strategies LLC increased its position in Quanta Services by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after buying an additional 91 shares during the period. Finally, Versant Capital Management Inc boosted its position in shares of Quanta Services by 62.5% in the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock valued at $37,000 after acquiring an additional 45 shares during the period. Institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

Shares of NYSE PWR traded up $6.30 during mid-day trading on Wednesday, hitting $300.28. 374,881 shares of the stock were exchanged, compared to its average volume of 1,406,890. The company has a market cap of $44.32 billion, a P/E ratio of 55.40 and a beta of 1.06. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. Quanta Services, Inc. has a twelve month low of $193.52 and a twelve month high of $365.88. The stock’s fifty day simple moving average is $330.55 and its two-hundred day simple moving average is $300.60.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.46 by $0.26. The firm 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 business’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.08 EPS. As a group, analysts forecast that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend was Thursday, January 2nd. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio (DPR) is presently 7.38%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. TD Cowen boosted their target price on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Truist Financial cut their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Daiwa Capital Markets began coverage on Quanta Services in a research report on Friday, December 6th. They set an “outperform” rating and a $355.00 target price on the stock. UBS Group upped their price target on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Bank of America started coverage on Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price objective on the stock. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $330.06.

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.