Fmr LLC Has $1.59 Billion Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Fmr LLC lowered its stake in Quanta Services, Inc. (NYSE:PWR) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,025,021 shares of the construction company’s stock after selling 276,596 shares during the period. Fmr LLC’s holdings in Quanta Services were worth $1,588,158,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PWR. Webster Bank N. A. boosted its holdings in shares of Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. Sierra Ocean LLC acquired a new stake in shares of Quanta Services during the fourth quarter valued at about $27,000. Prestige Wealth Management Group LLC bought a new stake in shares of Quanta Services during the third quarter worth about $30,000. Legacy Investment Solutions LLC acquired a new position in shares of Quanta Services in the third quarter valued at approximately $31,000. Finally, Sound Income Strategies LLC raised its holdings in Quanta Services by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after buying an additional 91 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Down 5.0 %

Shares of NYSE PWR opened at $239.50 on Monday. The stock has a market capitalization of $35.49 billion, a P/E ratio of 39.72, a P/E/G ratio of 1.41 and a beta of 1.04. 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 1 year low of $227.11 and a 1 year high of $365.88. The company has a 50-day moving average price of $273.15 and a 200-day moving average price of $304.43.

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

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders 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 dividend on an annualized basis and a yield of 0.17%. Quanta Services’s dividend payout ratio (DPR) is presently 6.63%.

Wall Street Analysts Forecast Growth

PWR has been the subject of several recent research reports. B. Riley restated a “neutral” rating and issued a $300.00 price target (down from $343.00) on shares of Quanta Services in a research report on Wednesday, March 19th. Roth Capital raised Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Daiwa Capital Markets lowered Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. JPMorgan Chase & Co. lifted their price objective 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, Citigroup dropped their price target on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.