Schechter Investment Advisors LLC Cuts Stake in Quanta Services, Inc. (NYSE:PWR)

Schechter Investment Advisors LLC reduced its stake in Quanta Services, Inc. (NYSE:PWRFree Report) by 5.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,355 shares of the construction company’s stock after selling 76 shares during the period. Schechter Investment Advisors LLC’s holdings in Quanta Services were worth $253,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of PWR. Osaic Holdings Inc. grew its stake in shares of Quanta Services by 2,026.3% in the second quarter. Osaic Holdings Inc. now owns 1,344,871 shares of the construction company’s stock worth $11,136,000 after acquiring an additional 1,281,621 shares during the last quarter. Norges Bank bought a new position in shares of Quanta Services during the fourth quarter valued at $180,853,000. Capital World Investors lifted its holdings in shares of Quanta Services by 14.8% during the second quarter. Capital World Investors now owns 5,991,012 shares of the construction company’s stock valued at $1,176,934,000 after purchasing an additional 771,861 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Quanta Services by 52.2% during the first quarter. Royal Bank of Canada now owns 1,492,323 shares of the construction company’s stock valued at $196,405,000 after purchasing an additional 511,508 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in shares of Quanta Services during the second quarter valued at $92,251,000. 87.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PWR shares. StockNews.com started coverage on Quanta Services in a report on Thursday, October 5th. They set a “hold” rating on the stock. Stifel Nicolaus upped their price target on Quanta Services from $212.00 to $237.00 and gave the company a “buy” rating in a report on Tuesday, December 19th. Citigroup increased their target price on Quanta Services from $234.00 to $237.00 and gave the company a “buy” rating in a report on Friday, January 26th. The Goldman Sachs Group raised Quanta Services from a “neutral” rating to a “buy” rating and lowered their target price for the company from $214.00 to $211.00 in a report on Wednesday, November 8th. Finally, KeyCorp initiated coverage on Quanta Services in a report on Wednesday, January 10th. They issued a “sector weight” rating on the stock. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $220.80.

Check Out Our Latest Stock Report on Quanta Services

Quanta Services Stock Performance

NYSE PWR opened at $197.29 on Wednesday. The stock has a market capitalization of $28.66 billion, a PE ratio of 42.07 and a beta of 1.09. The business has a 50 day simple moving average of $201.54 and a two-hundred day simple moving average of $194.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.61 and a quick ratio of 1.57. Quanta Services, Inc. has a 1-year low of $147.33 and a 1-year high of $219.17.

Quanta Services (NYSE:PWRGet Free Report) last released its quarterly earnings results on Thursday, November 2nd. The construction company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.09. The business had revenue of $5.62 billion during the quarter, compared to analysts’ expectations of $5.26 billion. Quanta Services had a return on equity of 16.17% and a net margin of 3.57%. On average, research analysts predict that Quanta Services, Inc. will post 6.44 EPS for the current fiscal year.

Quanta Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Tuesday, January 2nd were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.18%. This is a positive change from Quanta Services’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, December 29th. Quanta Services’s dividend payout ratio (DPR) is presently 7.68%.

Quanta Services Company Profile

(Free Report)

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries worldwide. 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.

Recommended Stories

Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

Receive News & Ratings for Quanta Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanta Services and related companies with MarketBeat.com's FREE daily email newsletter.