Guinness Atkinson Asset Management Inc Trims Holdings in Quanta Services, Inc. (NYSE:PWR)

Guinness Atkinson Asset Management Inc reduced its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 24.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,242 shares of the construction company’s stock after selling 398 shares during the quarter. Guinness Atkinson Asset Management Inc’s holdings in Quanta Services were worth $393,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in Quanta Services in the 3rd quarter valued at about $31,000. Prestige Wealth Management Group LLC bought a new stake in shares of Quanta Services during the third quarter valued at approximately $30,000. Versant Capital Management Inc boosted its holdings 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 purchasing an additional 45 shares during the period. MidAtlantic Capital Management Inc. bought a new position in Quanta Services in the third quarter worth approximately $41,000. Finally, Eastern Bank purchased a new position in Quanta Services during the 3rd quarter worth $44,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

PWR opened at $337.10 on Monday. The firm’s 50-day moving average price is $329.35 and its 200-day moving average price is $296.78. The company has a market cap of $49.76 billion, a P/E ratio of 62.20 and a beta of 1.06. 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, Inc. has a 52-week low of $187.27 and a 52-week high of $350.19.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the company posted $2.08 earnings per share. As a group, equities analysts anticipate 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 was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio is currently 7.38%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PWR shares. Northland Securities reissued an “outperform” rating and set a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Daiwa Capital Markets started coverage on shares of Quanta Services in a report on Friday, December 6th. They set an “outperform” rating and a $355.00 target price on the stock. Robert W. Baird boosted their price target on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Guggenheim started coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating on the stock. Finally, Truist Financial reduced 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 note on Thursday. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $324.19.

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.