American Century Companies Inc. Sells 10,053 Shares of Quanta Services, Inc. (NYSE:PWR)

American Century Companies Inc. decreased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 2.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 385,817 shares of the construction company’s stock after selling 10,053 shares during the period. American Century Companies Inc.’s holdings in Quanta Services were worth $121,938,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in PWR. Raymond James Financial Inc. bought a new stake in Quanta Services during the 4th quarter valued at approximately $203,068,000. Alkeon Capital Management LLC raised its position in shares of Quanta Services by 62.5% during the third quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock valued at $193,798,000 after buying an additional 250,000 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Quanta Services in the fourth quarter worth $53,949,000. Union Bancaire Privee UBP SA purchased a new position in Quanta Services during the fourth quarter valued at $46,364,000. Finally, Public Sector Pension Investment Board increased its holdings in Quanta Services by 81.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company’s stock valued at $83,210,000 after acquiring an additional 125,530 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. BMO Capital Markets upgraded Quanta Services from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $338.00 to $316.00 in a research report on Tuesday, February 25th. Bank of America started coverage on Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 price objective on the stock. B. Riley reiterated a “neutral” rating and set a $300.00 target price (down from $343.00) on shares of Quanta Services in a research report on Wednesday, March 19th. Daiwa Capital Markets cut shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Finally, Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $326.79.

Quanta Services Stock Performance

PWR stock opened at $268.43 on Monday. Quanta Services, Inc. has a twelve month low of $227.11 and a twelve month high of $365.88. The firm has a market cap of $39.78 billion, a price-to-earnings ratio of 44.52, a PEG ratio of 1.41 and a beta of 1.10. The business’s fifty day simple moving average is $289.30 and its two-hundred day simple moving average is $304.61. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. The company had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. Analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.15%. Quanta Services’s dividend payout ratio (DPR) is currently 6.63%.

Quanta Services Company 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.