Crossmark Global Holdings Inc. Sells 194 Shares of Quanta Services, Inc. (NYSE:PWR)

Crossmark Global Holdings Inc. trimmed its position in shares of Quanta Services, Inc. (NYSE:PWR) by 2.6% in the fourth quarter, Holdings Channel reports. The fund owned 7,344 shares of the construction company’s stock after selling 194 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Quanta Services were worth $2,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Electron Capital Partners LLC increased its holdings in shares of Quanta Services by 395.1% during the 2nd quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock worth $666,260,000 after purchasing an additional 2,092,519 shares during the period. Alkeon Capital Management LLC grew its position in Quanta Services by 62.5% during the third quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock worth $193,798,000 after buying an additional 250,000 shares in the last quarter. International Assets Investment Management LLC increased its stake in Quanta Services by 29,655.3% during 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 acquiring an additional 147,980 shares during the period. Public Sector Pension Investment Board raised its holdings in Quanta Services by 81.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company’s stock valued at $83,210,000 after acquiring an additional 125,530 shares in the last quarter. Finally, Meitav Investment House Ltd. bought a new stake in shares of Quanta Services in the 3rd quarter worth 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 analysts have recently issued reports on the stock. Stifel Nicolaus increased their price objective on shares of Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a research note on Wednesday. UBS Group raised their price target on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Truist Financial dropped their target price on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a report on Thursday, January 16th. TD Cowen boosted their price target on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, Citigroup lifted their price objective on Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a report on Monday, December 9th. Four equities research 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. According to MarketBeat, Quanta Services has an average rating of “Moderate Buy” and an average price target of $325.06.

Quanta Services Stock Performance

PWR stock opened at $354.52 on Friday. The company has a 50 day moving average price of $330.71 and a 200 day moving average price of $298.51. Quanta Services, Inc. has a fifty-two week low of $192.62 and a fifty-two week high of $365.88. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The stock has a market capitalization of $52.33 billion, a PE ratio of 65.41 and a beta of 1.06.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. The company 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 firm’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.08 earnings per share. Analysts forecast that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.10 per share. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.11%. Quanta Services’s payout ratio 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.