Price T Rowe Associates Inc. MD Sells 17,597 Shares of Quanta Services, Inc. (NYSE:PWR)

Price T Rowe Associates Inc. MD lessened its stake in Quanta Services, Inc. (NYSE:PWR) by 3.3% during the first quarter, HoldingsChannel reports. The firm owned 523,740 shares of the construction company’s stock after selling 17,597 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Quanta Services were worth $136,069,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. EntryPoint Capital LLC bought a new position in Quanta Services in the 1st quarter worth approximately $25,000. Private Ocean LLC purchased a new position in shares of Quanta Services in the first quarter valued at $26,000. Salomon & Ludwin LLC bought a new stake in shares of Quanta Services during the 1st quarter valued at $26,000. Hazlett Burt & Watson Inc. lifted its holdings in Quanta Services by 47.3% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after purchasing an additional 52 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new position in Quanta Services during the 4th quarter valued at about $34,000. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Price Performance

PWR traded down $1.69 during trading on Monday, reaching $255.04. 235,431 shares of the company traded hands, compared to its average volume of 941,314. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36. The company has a market cap of $37.34 billion, a P/E ratio of 50.11 and a beta of 1.03. The firm has a fifty day simple moving average of $266.89 and a 200 day simple moving average of $247.42. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $286.87.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, May 2nd. The construction company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.14. The company had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $4.96 billion. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. On average, equities analysts forecast that Quanta Services, Inc. will post 7.69 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Monday, July 1st were issued a $0.09 dividend. The ex-dividend date of this dividend was 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 presently 6.98%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Evercore ISI upped their target price on shares of Quanta Services from $255.00 to $288.00 and gave the stock an “outperform” rating in a report on Tuesday, May 7th. B. Riley increased their price objective on Quanta Services from $246.00 to $286.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Citigroup lifted their target price on shares of Quanta Services from $299.00 to $302.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. The Goldman Sachs Group raised their price objective on Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Finally, Robert W. Baird increased their price target on shares of Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $273.75.

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.