Monument Capital Management Cuts Position in Quanta Services, Inc. (NYSE:PWR)

Monument Capital Management reduced its position in shares of Quanta Services, Inc. (NYSE:PWR) by 0.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,184 shares of the construction company’s stock after selling 42 shares during the period. Monument Capital Management’s holdings in Quanta Services were worth $1,607,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of PWR. Vanguard Group Inc. grew its position in Quanta Services by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 16,235,875 shares of the construction company’s stock valued at $3,503,702,000 after acquiring an additional 191,334 shares in the last quarter. Capital World Investors increased its stake in Quanta Services by 11.6% during the 4th quarter. Capital World Investors now owns 6,000,722 shares of the construction company’s stock worth $1,294,956,000 after buying an additional 624,545 shares during the period. Artisan Partners Limited Partnership lifted its holdings in Quanta Services by 384.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock worth $526,261,000 after buying an additional 1,935,786 shares in the last quarter. Norges Bank purchased a new position in Quanta Services in the 4th quarter valued at approximately $335,777,000. Finally, Morgan Stanley grew its stake in shares of Quanta Services by 3.3% in the third quarter. Morgan Stanley now owns 1,539,987 shares of the construction company’s stock worth $288,086,000 after acquiring an additional 49,602 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Performance

Shares of PWR stock traded up $5.15 during mid-day trading on Wednesday, hitting $252.93. 260,082 shares of the stock were exchanged, compared to its average volume of 937,040. The stock’s fifty day simple moving average is $268.75 and its two-hundred day simple moving average is $241.45. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $286.87. The stock has a market capitalization of $37.03 billion, a price-to-earnings ratio of 48.02 and a beta of 1.03.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, May 2nd. The construction company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.14. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. The firm had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $4.96 billion. On average, analysts forecast that Quanta Services, Inc. will post 7.69 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Monday, July 1st will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date is Monday, July 1st. Quanta Services’s dividend payout ratio is currently 6.98%.

Wall Street Analyst Weigh In

PWR has been the subject of several analyst reports. Truist Financial reissued a “buy” rating and set a $305.00 target price (up from $301.00) on shares of Quanta Services in a research note on Monday, May 6th. Citigroup boosted their price objective on Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Robert W. Baird raised their target price on shares of Quanta Services from $265.00 to $287.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. The Goldman Sachs Group boosted their price target on shares of Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Finally, Argus lifted their price objective on shares of Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and a consensus price target of $268.85.

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.