Cinctive Capital Management LP Lowers Stock Position in Quanta Services, Inc. (NYSE:PWR)

Cinctive Capital Management LP reduced its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 51.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 19,220 shares of the construction company’s stock after selling 20,521 shares during the period. Cinctive Capital Management LP’s holdings in Quanta Services were worth $6,074,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PWR. Kestra Private Wealth Services LLC increased its stake in Quanta Services by 85.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock valued at $1,502,000 after buying an additional 2,184 shares during the period. Principal Financial Group Inc. increased its position in Quanta Services by 5.6% during the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after buying an additional 11,012 shares in the last quarter. Synovus Financial Corp lifted its holdings in Quanta Services by 34.0% in the 3rd quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after purchasing an additional 1,830 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in shares of Quanta Services by 4.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 17,573 shares of the construction company’s stock valued at $5,554,000 after buying an additional 793 shares during the last quarter. Finally, SeaBridge Investment Advisors LLC acquired a new stake in Quanta Services during the fourth quarter worth approximately $1,754,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Trading Up 1.4 %

Shares of NYSE:PWR opened at $257.64 on Wednesday. The stock has a market capitalization of $38.18 billion, a price-to-earnings ratio of 42.73, a PEG ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a 1-year low of $227.11 and a 1-year high of $365.88. The company has a 50 day moving average price of $279.42 and a 200 day moving average price of $304.87. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. The business had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. On average, research analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend is Thursday, April 3rd. Quanta Services’s payout ratio is 6.63%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PWR. Daiwa Capital Markets downgraded Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Stifel Nicolaus lowered their target price on Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a research note on Monday, February 24th. B. Riley reissued a “neutral” rating and set a $300.00 price target (down from $343.00) on shares of Quanta Services in a research report on Wednesday, March 19th. Citigroup dropped their price target on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, Daiwa America downgraded shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $326.79.

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.