Quanta Services, Inc. (NYSE:PWR) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC lessened its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 61.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,921 shares of the construction company's stock after selling 4,720 shares during the quarter. Lazard Asset Management LLC's holdings in Quanta Services were worth $922,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Quanta Services by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company's stock valued at $5,375,828,000 after purchasing an additional 161,277 shares in the last quarter. Capital World Investors boosted its position in Quanta Services by 14.1% during the fourth 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 boosted its position in Quanta Services by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company's stock valued at $1,121,830,000 after purchasing an additional 99,416 shares in the last quarter. Invesco Ltd. boosted its position in Quanta Services by 3.7% during the fourth quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company's stock valued at $604,871,000 after purchasing an additional 68,565 shares in the last quarter. Finally, Norges Bank bought a new stake in Quanta Services during the fourth quarter valued at about $544,937,000. Institutional investors own 90.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Daiwa America raised Quanta Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Citigroup decreased their price target on Quanta Services from $366.00 to $342.00 and set a "buy" rating for the company in a research note on Friday, April 25th. BMO Capital Markets set a $352.00 price target on Quanta Services in a research note on Friday, May 2nd. Truist Financial decreased their price target on Quanta Services from $398.00 to $324.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, Roth Capital upgraded Quanta Services to a "strong-buy" rating in a research note on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Quanta Services presently has a consensus rating of "Moderate Buy" and a consensus target price of $344.35.

Quanta Services Stock Performance

Quanta Services stock traded up $4.59 during midday trading on Friday, hitting $335.42. 932,410 shares of the company were exchanged, compared to its average volume of 1,582,542. The firm has a market capitalization of $49.73 billion, a PE ratio of 55.63, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $365.88. The business has a fifty day simple moving average of $289.31 and a two-hundred day simple moving average of $302.80. 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 - Get Free Report) last posted its earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. The firm had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. Quanta Services's revenue for the quarter was up 23.9% compared to the same quarter last year. During the same period last year, the company earned $1.41 earnings per share. On average, sell-side analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.12%. The ex-dividend date is Tuesday, July 1st. Quanta Services's dividend payout ratio (DPR) is 6.45%.

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.