Cresset Asset Management LLC Has $871,000 Position in Quanta Services, Inc. (NYSE:PWR)

Cresset Asset Management LLC lowered its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 82.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,755 shares of the construction company's stock after selling 12,588 shares during the period. Cresset Asset Management LLC's holdings in Quanta Services were worth $871,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Banque Transatlantique SA acquired a new stake in shares of Quanta Services in the fourth quarter worth $25,000. Quarry LP acquired a new position in Quanta Services during the fourth quarter worth $26,000. Webster Bank N. A. raised its stake in Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Sierra Ocean LLC acquired a new stake in shares of Quanta Services in the fourth quarter valued at $27,000. Finally, Sound Income Strategies LLC increased its stake in shares of Quanta Services by 700.0% in the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock valued at $33,000 after buying an additional 91 shares in the last quarter. Institutional investors own 90.49% of the company's stock.

Quanta Services Stock Up 2.2%

Shares of NYSE PWR opened at $333.01 on Tuesday. The firm has a market cap of $49.37 billion, a PE ratio of 55.23, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02. The company has a 50 day simple moving average of $273.14 and a 200 day simple moving average of $300.75. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $365.88.

Quanta Services (NYSE:PWR - Get Free Report) last released its earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, beating analysts' consensus estimates of $1.72 by $0.06. The business had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The company's revenue for the quarter was up 23.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.41 EPS. On average, research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.12%. The ex-dividend date was Thursday, April 3rd. Quanta Services's payout ratio is currently 6.45%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PWR. TD Cowen raised their price target on Quanta Services from $335.00 to $355.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Roth Capital upgraded Quanta Services to a "strong-buy" rating in a research note on Thursday, February 20th. DA Davidson boosted their target price on Quanta Services from $295.00 to $305.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Bank of America assumed coverage on Quanta Services in a research note on Friday, January 24th. They set a "buy" rating and a $407.00 price objective on the stock. Finally, B. Riley increased their price target on Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $344.35.

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.

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