Pitcairn Co. Has $505,000 Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Pitcairn Co. lowered its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 24.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,695 shares of the construction company’s stock after selling 537 shares during the period. Pitcairn Co.’s holdings in Quanta Services were worth $505,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. EntryPoint Capital LLC bought a new position in shares of Quanta Services in the first quarter worth about $25,000. Lazard Asset Management LLC lifted its stake in Quanta Services by 71,012.5% in the 1st quarter. Lazard Asset Management LLC now owns 5,689 shares of the construction company’s stock valued at $1,478,000 after purchasing an additional 5,681 shares during the last quarter. BOKF NA boosted its position in Quanta Services by 25.4% in the first quarter. BOKF NA now owns 3,505 shares of the construction company’s stock valued at $909,000 after buying an additional 709 shares in the last quarter. SVB Wealth LLC grew its stake in shares of Quanta Services by 4.6% during the first quarter. SVB Wealth LLC now owns 1,445 shares of the construction company’s stock worth $375,000 after buying an additional 63 shares during the last quarter. Finally, Bayesian Capital Management LP lifted its stake in shares of Quanta Services by 129.2% in the 1st quarter. Bayesian Capital Management LP now owns 5,244 shares of the construction company’s stock valued at $1,362,000 after acquiring an additional 2,956 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Price Performance

Quanta Services stock opened at $342.99 on Tuesday. The stock has a market capitalization of $50.63 billion, a price-to-earnings ratio of 63.27 and a beta of 1.01. Quanta Services, Inc. has a 52-week low of $180.97 and a 52-week high of $344.45. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The stock’s 50 day moving average price is $309.24 and its two-hundred day moving average price is $280.37.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period last year, the company posted $2.08 earnings per share. On average, equities analysts predict that Quanta Services, Inc. will post 7.88 earnings per share for the current year.

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date is Thursday, January 2nd. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio (DPR) is 7.38%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Robert W. Baird boosted their price objective on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Truist Financial raised their price objective on shares of Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. B. Riley upped their price target on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Citigroup lifted their price target on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Finally, Wolfe Research started coverage on Quanta Services in a report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and a consensus target price of $314.27.

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.