Frontier Capital Management Co. LLC Lowers Position in Quanta Services, Inc. (NYSE:PWR)

Frontier Capital Management Co. LLC trimmed its stake in Quanta Services, Inc. (NYSE:PWR) by 27.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 195,339 shares of the construction company’s stock after selling 74,222 shares during the period. Frontier Capital Management Co. LLC’s holdings in Quanta Services were worth $61,737,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in PWR. Banque Transatlantique SA purchased a new stake in Quanta Services during the 4th quarter valued at $25,000. Webster Bank N. A. grew its position in shares of Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after buying an additional 81 shares during the last quarter. Quarry LP bought a new position in shares of Quanta Services during the fourth quarter valued at approximately $26,000. Sierra Ocean LLC bought a new stake in Quanta Services in the fourth quarter valued at $27,000. 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 worth $33,000 after purchasing an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

PWR stock opened at $323.70 on Thursday. 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 $227.08 and a 1 year high of $365.88. The company has a market cap of $47.99 billion, a P/E ratio of 53.68, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02. The stock’s fifty day moving average price is $268.49 and its 200-day moving average price is $300.53.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The business had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. During the same period in the previous year, the company posted $1.41 EPS. The business’s quarterly revenue was up 23.9% compared to the same quarter last year. On average, equities analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.12%. Quanta Services’s payout ratio is presently 6.45%.

Analysts Set New Price Targets

PWR has been the subject of a number of research reports. TD Cowen increased their price target on shares of Quanta Services from $335.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday. Guggenheim initiated coverage on Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. lifted their price target on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Bank of America began coverage on shares of Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 target price for the company. Finally, The Goldman Sachs Group dropped their target price on Quanta Services from $418.00 to $364.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Six equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $344.35.

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.