EPG Wealth Management LLC Reduces Position in Quanta Services, Inc. (NYSE:PWR)

EPG Wealth Management LLC decreased its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 5.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,506 shares of the construction company's stock after selling 823 shares during the quarter. Quanta Services accounts for about 1.1% of EPG Wealth Management LLC's investment portfolio, making the stock its 16th biggest position. EPG Wealth Management LLC's holdings in Quanta Services were worth $4,268,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of PWR. Vanguard Group Inc. increased its position in shares of Quanta Services by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company's stock worth $5,375,828,000 after acquiring an additional 161,277 shares during the period. Capital World Investors raised its position in Quanta Services by 14.1% during the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock valued at $2,282,978,000 after purchasing an additional 891,977 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Quanta Services by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company's stock worth $1,121,830,000 after buying an additional 99,416 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Quanta Services by 3.7% in the fourth quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company's stock valued at $604,871,000 after acquiring an additional 68,565 shares in the last quarter. Finally, Norges Bank bought a new position in Quanta Services during the 4th quarter worth about $544,937,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Stock Performance

Shares of NYSE:PWR traded down $0.25 during midday trading on Friday, reaching $326.00. The company's stock had a trading volume of 999,742 shares, compared to its average volume of 1,619,300. The firm has a market capitalization of $48.33 billion, a PE ratio of 54.06, a P/E/G ratio of 1.41 and a beta of 1.02. The stock has a fifty day moving average of $271.55 and a 200 day moving average of $300.68. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $365.88. 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 - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.06. The business had revenue of $6.23 billion during the quarter, compared to analysts' expectations of $5.88 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The company's revenue for the quarter was up 23.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.41 EPS. On average, equities analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date was Thursday, April 3rd. Quanta Services's dividend payout ratio (DPR) is presently 6.45%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PWR. JPMorgan Chase & Co. increased their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Argus set a $375.00 price target on Quanta Services in a research report on Monday. Roth Capital raised Quanta Services to a "strong-buy" rating in a research report on Thursday, February 20th. Stifel Nicolaus increased their price target on shares of Quanta Services from $306.00 to $363.00 and gave the company a "buy" rating in a research report on Monday. Finally, TD Cowen boosted their price objective on shares of Quanta Services from $335.00 to $355.00 and gave the stock a "buy" rating in a research note on Wednesday. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $344.35.

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.