West Oak Capital LLC Sells 193 Shares of Quanta Services, Inc. (NYSE:PWR)

West Oak Capital LLC lowered its stake in Quanta Services, Inc. (NYSE:PWR) by 64.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 107 shares of the construction company’s stock after selling 193 shares during the period. West Oak Capital LLC’s holdings in Quanta Services were worth $34,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new position in shares of Quanta Services in the third quarter worth $31,000. Prestige Wealth Management Group LLC bought a new position in shares of Quanta Services in the third quarter worth $30,000. 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 worth $37,000 after purchasing an additional 45 shares during the period. Valley Wealth Managers Inc. bought a new position in shares of Quanta Services in the second quarter worth $33,000. Finally, Quest Partners LLC bought a new position in shares of Quanta Services in the second quarter worth $35,000. Institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

PWR has been the topic of several research analyst reports. Daiwa Capital Markets initiated coverage on Quanta Services in a research note on Friday, December 6th. They issued an “outperform” rating and a $355.00 price objective on the stock. JPMorgan Chase & Co. initiated coverage on Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 price objective on the stock. Citigroup raised their price objective on Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Stifel Nicolaus raised their price objective on Quanta Services from $343.00 to $374.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Wolfe Research started coverage on Quanta Services in a research note on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $324.25.

Quanta Services Price Performance

Shares of PWR opened at $314.03 on Friday. Quanta Services, Inc. has a 1 year low of $187.27 and a 1 year high of $350.19. 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 $46.35 billion, a price-to-earnings ratio of 57.94 and a beta of 1.06. The business has a 50-day moving average of $328.05 and a 200-day moving average of $293.59.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping 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 company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same period last year, the company earned $2.08 earnings per share. The firm’s revenue was up 15.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be issued a $0.10 dividend. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend is Thursday, January 2nd. Quanta Services’s payout ratio is presently 7.38%.

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.