Silverleafe Capital Partners LLC Sells 5,000 Shares of Quanta Services, Inc. (NYSE:PWR)

Silverleafe Capital Partners LLC cut its position in shares of Quanta Services, Inc. (NYSE:PWR) by 43.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,585 shares of the construction company’s stock after selling 5,000 shares during the quarter. Quanta Services accounts for about 0.7% of Silverleafe Capital Partners LLC’s portfolio, making the stock its 25th biggest holding. Silverleafe Capital Partners LLC’s holdings in Quanta Services were worth $1,711,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Wedmont Private Capital grew its holdings in shares of Quanta Services by 1.0% during the first quarter. Wedmont Private Capital now owns 4,674 shares of the construction company’s stock worth $1,198,000 after buying an additional 47 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its position in Quanta Services by 47.3% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after purchasing an additional 52 shares during the last quarter. Checchi Capital Advisers LLC boosted its position in Quanta Services by 4.6% during the fourth quarter. Checchi Capital Advisers LLC now owns 1,367 shares of the construction company’s stock valued at $295,000 after purchasing an additional 60 shares during the last quarter. Central Bank & Trust Co. boosted its position in Quanta Services by 2.1% during the fourth quarter. Central Bank & Trust Co. now owns 3,246 shares of the construction company’s stock valued at $700,000 after purchasing an additional 66 shares during the last quarter. Finally, Czech National Bank boosted its position in Quanta Services by 0.3% during the fourth quarter. Czech National Bank now owns 25,445 shares of the construction company’s stock valued at $5,491,000 after purchasing an additional 67 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Price Performance

Quanta Services stock opened at $254.09 on Friday. The firm has a market cap of $37.20 billion, a PE ratio of 49.23 and a beta of 1.05. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $286.87. The stock’s fifty day moving average price is $268.79 and its two-hundred day moving average price is $240.53. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.32.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, May 2nd. The construction company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.14. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. The business had revenue of $5.03 billion for the quarter, compared to analysts’ expectations of $4.96 billion. As a group, research analysts expect that Quanta Services, Inc. will post 7.69 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Monday, July 1st will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio (DPR) is currently 6.98%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. The Goldman Sachs Group increased their price target on Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Citigroup raised their price objective on Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Robert W. Baird raised their price objective on Quanta Services from $265.00 to $287.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. DA Davidson raised their price objective on Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $305.00 price objective (up from $301.00) on shares of Quanta Services in a research report on Monday, May 6th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $268.85.

Quanta Services Company 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.