Ilmarinen Mutual Pension Insurance Co Cuts Holdings in Quanta Services, Inc. (NYSE:PWR)

Ilmarinen Mutual Pension Insurance Co lowered its holdings in Quanta Services, Inc. (NYSE:PWR) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,700 shares of the construction company’s stock after selling 300 shares during the quarter. Ilmarinen Mutual Pension Insurance Co’s holdings in Quanta Services were worth $7,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. 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 during the last quarter. Sierra Ocean LLC bought a new position in Quanta Services during the fourth quarter valued at approximately $27,000. Prestige Wealth Management Group LLC purchased a new stake in Quanta Services in the third quarter worth approximately $30,000. Legacy Investment Solutions LLC bought a new stake in Quanta Services in the 3rd quarter worth approximately $31,000. Finally, Sound Income Strategies LLC raised its stake in Quanta Services by 700.0% during 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. 90.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. Daiwa America lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th. Stifel Nicolaus lowered their price objective on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. JPMorgan Chase & Co. boosted their target price 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. BMO Capital Markets upgraded shares of Quanta Services from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $338.00 to $316.00 in a research report on Tuesday, February 25th. Finally, Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $326.79.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $239.50 on Friday. 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 firm has a market cap of $35.49 billion, a price-to-earnings ratio of 39.72, a P/E/G ratio of 1.41 and a beta of 1.04. The firm has a fifty day moving average price of $273.15 and a 200 day moving average price of $304.21. Quanta Services, Inc. has a fifty-two week low of $227.11 and a fifty-two week high of $365.88.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. The firm had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. As a group, sell-side analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.17%. Quanta Services’s dividend payout ratio is currently 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.