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

Osborne Partners Capital Management LLC trimmed its position in shares of Quanta Services, Inc. (NYSE:PWR) by 1.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 9,535 shares of the construction company’s stock after selling 127 shares during the period. Osborne Partners Capital Management LLC’s holdings in Quanta Services were worth $3,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Webster Bank N. A. raised its position in shares of Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after acquiring an additional 81 shares during the period. Prestige Wealth Management Group LLC acquired a new position in Quanta Services in the 3rd quarter worth about $30,000. Legacy Investment Solutions LLC purchased a new position in Quanta Services during the third quarter worth approximately $31,000. Sound Income Strategies LLC increased its position in shares of Quanta Services by 700.0% in the fourth 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 in the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Quanta Services by 62.5% in the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock valued at $37,000 after buying an additional 45 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Price Performance

Shares of PWR stock opened at $308.10 on Friday. The firm’s 50-day moving average is $328.59 and its two-hundred day moving average is $301.30. Quanta Services, Inc. has a 12 month low of $193.52 and a 12 month high of $365.88. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The company has a market capitalization of $45.48 billion, a PE ratio of 56.85, a price-to-earnings-growth ratio of 1.49 and a beta of 1.06.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. During the same period in the prior year, the firm posted $2.08 earnings per share. The firm’s quarterly revenue was up 15.5% on a year-over-year basis. Analysts predict that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.13%. Quanta Services’s dividend payout ratio is currently 7.38%.

Analysts Set New Price Targets

PWR has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Northland Securities restated an “outperform” rating and set a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Truist Financial cut their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Finally, TD Cowen raised their target price on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $330.06.

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.