HighPoint Advisor Group LLC Sells 554 Shares of Quanta Services, Inc. (NYSE:PWR)

HighPoint Advisor Group LLC reduced its stake in Quanta Services, Inc. (NYSE:PWR) by 8.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,636 shares of the construction company’s stock after selling 554 shares during the period. HighPoint Advisor Group LLC’s holdings in Quanta Services were worth $1,707,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Fisher Asset Management LLC bought a new stake in shares of Quanta Services during the third quarter valued at about $211,000. Paloma Partners Management Co increased its holdings in Quanta Services by 139.3% during the 3rd quarter. Paloma Partners Management Co now owns 682 shares of the construction company’s stock worth $203,000 after acquiring an additional 397 shares during the period. Bamco Inc. NY lifted its stake in Quanta Services by 0.3% in the 3rd quarter. Bamco Inc. NY now owns 322,789 shares of the construction company’s stock worth $96,240,000 after purchasing an additional 1,010 shares in the last quarter. Benjamin Edwards Inc. bought a new position in Quanta Services in the 3rd quarter valued at $511,000. Finally, Cinctive Capital Management LP grew its position in shares of Quanta Services by 19.3% during the 3rd quarter. Cinctive Capital Management LP now owns 39,741 shares of the construction company’s stock valued at $11,849,000 after purchasing an additional 6,436 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Price Performance

Shares of Quanta Services stock opened at $254.76 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. Quanta Services, Inc. has a one year low of $227.11 and a one year high of $365.88. The business’s 50 day simple moving average is $281.43 and its two-hundred day simple moving average is $304.95. The stock has a market capitalization of $37.75 billion, a P/E ratio of 42.25, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. The company had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. Analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be paid a $0.10 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. Quanta Services’s payout ratio is presently 6.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Citigroup dropped their price objective on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Truist Financial cut their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Daiwa America downgraded shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. B. Riley reissued a “neutral” rating and issued a $300.00 price target (down previously from $343.00) on shares of Quanta Services in a research note on Wednesday, March 19th. Finally, Stifel Nicolaus lowered their price objective on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $326.79.

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.