Crestwood Advisors Group LLC Trims Holdings in Quanta Services, Inc. (NYSE:PWR)

Crestwood Advisors Group LLC decreased its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 1.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,207 shares of the construction company's stock after selling 1,766 shares during the period. Crestwood Advisors Group LLC owned approximately 0.07% of Quanta Services worth $26,233,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Banque Transatlantique SA bought a new position in Quanta Services in the 4th quarter worth about $25,000. Cullen Frost Bankers Inc. purchased a new position in Quanta Services in the 1st quarter worth about $25,000. Quarry LP purchased a new position in Quanta Services in the 4th quarter worth about $26,000. OLD Second National Bank of Aurora purchased a new position in Quanta Services in the 1st quarter worth about $42,000. Finally, Sound Income Strategies LLC raised its position in Quanta Services by 77.9% in the 1st quarter. Sound Income Strategies LLC now owns 185 shares of the construction company's stock worth $47,000 after buying an additional 81 shares during the last quarter. Institutional investors own 90.49% of the company's stock.

Quanta Services Price Performance

Shares of NYSE PWR traded up $4.03 during midday trading on Thursday, reaching $409.14. 332,899 shares of the stock traded hands, compared to its average volume of 1,425,984. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 1.26. The stock has a market capitalization of $60.66 billion, a PE ratio of 65.99, a P/E/G ratio of 2.71 and a beta of 1.08. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $410.79. The company's 50 day moving average is $365.74 and its 200 day moving average is $314.55.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.72 by $0.06. The company had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. Quanta Services had a return on equity of 18.06% and a net margin of 3.74%. Quanta Services's revenue was up 23.9% on a year-over-year basis. During the same period last year, the company earned $1.41 earnings per share. On average, equities research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were given a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.10%. Quanta Services's dividend payout ratio is presently 6.45%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. The Goldman Sachs Group reissued a "buy" rating and issued a $414.00 target price (up previously from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. Evercore ISI upped their price target on shares of Quanta Services from $331.00 to $360.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. TD Cowen upped their price target on shares of Quanta Services from $335.00 to $355.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. UBS Group set a $413.00 price target on shares of Quanta Services and gave the company a "buy" rating in a research report on Thursday, June 12th. Finally, Citigroup reduced their price target on shares of Quanta Services from $366.00 to $342.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $359.20.

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.