First Trust Advisors LP Sells 10,846 Shares of Quanta Services Inc (NYSE:PWR)

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First Trust Advisors LP trimmed its holdings in shares of Quanta Services Inc (NYSE:PWR) by 3.5% in the 4th quarter, Holdings Channel reports. The firm owned 302,811 shares of the construction company’s stock after selling 10,846 shares during the quarter. First Trust Advisors LP’s holdings in Quanta Services were worth $12,327,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Quanta Services by 23.9% during the second quarter. BlackRock Inc. now owns 10,852,772 shares of the construction company’s stock valued at $414,467,000 after buying an additional 2,091,884 shares during the period. Voya Investment Management LLC increased its stake in shares of Quanta Services by 18.9% during the third quarter. Voya Investment Management LLC now owns 3,903,573 shares of the construction company’s stock valued at $147,554,000 after buying an additional 621,357 shares during the period. Millennium Management LLC increased its stake in shares of Quanta Services by 3,094.9% during the third quarter. Millennium Management LLC now owns 518,537 shares of the construction company’s stock valued at $19,600,000 after buying an additional 502,307 shares during the period. Engine Capital Management LP increased its stake in shares of Quanta Services by 15,757.9% during the third quarter. Engine Capital Management LP now owns 478,433 shares of the construction company’s stock valued at $18,085,000 after buying an additional 475,416 shares during the period. Finally, Halsey Associates Inc. CT increased its stake in shares of Quanta Services by 4.7% during the third quarter. Halsey Associates Inc. CT now owns 420,594 shares of the construction company’s stock valued at $15,898,000 after buying an additional 18,860 shares during the period. Institutional investors and hedge funds own 88.58% of the company’s stock.

PWR opened at $40.50 on Friday. The business’s 50-day moving average is $40.43 and its two-hundred day moving average is $38.94. Quanta Services Inc has a 1 year low of $32.11 and a 1 year high of $44.09. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.82 and a quick ratio of 1.80. The firm has a market capitalization of $5.60 billion, a PE ratio of 17.53, a price-to-earnings-growth ratio of 0.75 and a beta of 1.21.

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.49%. The ex-dividend date was Tuesday, December 31st. This is a positive change from Quanta Services’s previous quarterly dividend of $0.04. Quanta Services’s payout ratio is 7.91%.

PWR has been the topic of several analyst reports. Robert W. Baird upgraded Quanta Services from a “neutral” rating to an “outperform” rating and set a $46.00 target price on the stock in a research note on Tuesday, January 7th. ValuEngine lowered Quanta Services from a “hold” rating to a “sell” rating in a research note on Wednesday, December 11th. Zacks Investment Research lowered Quanta Services from a “hold” rating to a “sell” rating and set a $41.00 target price on the stock. in a research note on Monday, February 3rd. Finally, DA Davidson upgraded Quanta Services from a “neutral” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. Quanta Services currently has an average rating of “Buy” and an average price target of $45.25.

Quanta Services Company Profile

Quanta Services, Inc provides specialty contracting services in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment designs, installs, upgrades, repairs, and maintains electric power transmission and distribution infrastructure, and substation facilities, as well as provides other engineering and technical services; designs, installs, maintains, and repairs commercial and industrial wiring; and operates a postsecondary educational institution.

Read More: What Does a Sell-Side Analyst Rating Mean?

Want to see what other hedge funds are holding PWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quanta Services Inc (NYSE:PWR).

Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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