Quanta Services, Inc. (NYSE:PWR) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. trimmed its holdings in Quanta Services, Inc. (NYSE:PWR) by 15.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 96,778 shares of the construction company’s stock after selling 17,950 shares during the period. Prudential Financial Inc. owned 0.07% of Quanta Services worth $30,587,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Corebridge Financial Inc. grew its position in shares of Quanta Services by 0.4% in the fourth quarter. Corebridge Financial Inc. now owns 37,905 shares of the construction company’s stock valued at $11,980,000 after purchasing an additional 156 shares in the last quarter. Emerald Advisers LLC acquired a new position in Quanta Services during the fourth quarter worth $168,000. Vanguard Group Inc. grew its holdings in Quanta Services by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock valued at $5,375,828,000 after buying an additional 161,277 shares in the last quarter. Napatree Capital LLC purchased a new position in shares of Quanta Services during the 4th quarter worth $228,000. Finally, LPL Financial LLC boosted its position in shares of Quanta Services by 24.8% during the 4th quarter. LPL Financial LLC now owns 200,147 shares of the construction company’s stock valued at $63,256,000 after acquiring an additional 39,764 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on PWR. Guggenheim initiated coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating for the company. Truist Financial reduced their price target 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. Daiwa America lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. JPMorgan Chase & Co. raised their target price on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Finally, B. Riley reaffirmed 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. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $326.79.

Quanta Services Stock Performance

Shares of PWR opened at $276.16 on Wednesday. Quanta Services, Inc. has a 1 year low of $227.11 and a 1 year high of $365.88. The stock has a market capitalization of $40.93 billion, a PE ratio of 45.80, a PEG ratio of 1.41 and a beta of 1.10. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The stock has a 50-day simple moving average of $287.74 and a 200-day simple moving average of $305.00.

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

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date is Thursday, April 3rd. Quanta Services’s dividend payout ratio (DPR) is 6.63%.

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.