ARS Investment Partners LLC Cuts Stake in Quanta Services, Inc. (NYSE:PWR)

ARS Investment Partners LLC trimmed its holdings in Quanta Services, Inc. (NYSE:PWR) by 8.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,414 shares of the construction company’s stock after selling 400 shares during the period. ARS Investment Partners LLC’s holdings in Quanta Services were worth $1,395,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in PWR. Electron Capital Partners LLC grew its holdings in shares of Quanta Services by 395.1% during the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock worth $666,260,000 after buying an additional 2,092,519 shares in the last quarter. Alkeon Capital Management LLC grew its holdings in Quanta Services by 62.5% in the third quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock valued at $193,798,000 after purchasing an additional 250,000 shares during the period. Public Sector Pension Investment Board grew its holdings in Quanta Services by 4,701.7% in the second quarter. Public Sector Pension Investment Board now owns 153,559 shares of the construction company’s stock valued at $39,018,000 after purchasing an additional 150,361 shares during the period. International Assets Investment Management LLC grew its holdings in Quanta Services by 29,655.3% in the third quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company’s stock valued at $44,269,000 after purchasing an additional 147,980 shares during the period. Finally, Meitav Investment House Ltd. purchased a new stake in Quanta Services in the third quarter valued at approximately $27,430,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Citigroup boosted their target price on shares of Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a report on Monday, December 9th. Daiwa Capital Markets initiated coverage on shares of Quanta Services in a research report on Friday, December 6th. They set an “outperform” rating and a $355.00 price target on the stock. UBS Group lifted their price target on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Guggenheim started coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating on the stock. Finally, Truist Financial reduced their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $324.19.

Quanta Services Stock Performance

PWR stock opened at $337.10 on Tuesday. The company has a market capitalization of $49.76 billion, a P/E ratio of 62.20 and a beta of 1.06. The company has a 50-day simple moving average of $329.50 and a 200 day simple moving average of $297.36. Quanta Services, Inc. has a fifty-two week low of $187.27 and a fifty-two 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.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same period in the prior year, the firm earned $2.08 earnings per share. The business’s quarterly revenue was up 15.5% on a year-over-year basis. Sell-side analysts predict that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

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

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.