Lmcg Investments LLC Sells 7,613 Shares of Quanta Services, Inc. (NYSE:PWR)

Lmcg Investments LLC reduced its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 13.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,775 shares of the construction company's stock after selling 7,613 shares during the period. Lmcg Investments LLC's holdings in Quanta Services were worth $12,143,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. 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 in the last quarter. Capital World Investors increased its holdings 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 worth $2,282,978,000 after purchasing an additional 891,977 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Quanta Services by 2.9% in 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. grew its holdings in Quanta Services by 3.7% during the fourth quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company's stock worth $604,871,000 after buying an additional 68,565 shares in the last quarter. Finally, Norges Bank purchased a new stake in Quanta Services in the 4th quarter valued at $544,937,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Wall Street Analysts Forecast Growth

PWR has been the subject of several analyst reports. Daiwa America upgraded shares of Quanta Services from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. Roth Mkm initiated coverage on shares of Quanta Services in a research note on Friday, February 21st. They issued a "buy" rating and a $350.00 price objective for the company. The Goldman Sachs Group restated a "buy" rating and issued a $414.00 target price (up previously from $364.00) on shares of Quanta Services in a research note on Wednesday. DA Davidson lifted their price target on Quanta Services from $295.00 to $305.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Finally, B. Riley upped their price objective 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, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $347.35.

Quanta Services Price Performance

Shares of Quanta Services stock traded up $1.62 on Friday, reaching $361.20. The stock had a trading volume of 700,625 shares, compared to its average volume of 1,530,516. The business's 50 day moving average is $303.93 and its two-hundred day moving average is $304.23. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $365.88. The company has a market cap of $53.55 billion, a P/E ratio of 59.90, a price-to-earnings-growth ratio of 1.41 and a beta of 1.07.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.72 by $0.06. The firm 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 business's quarterly revenue was up 23.9% compared to the same quarter last year. During the same period last year, the firm earned $1.41 EPS. As a group, research analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders 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 dividend yield of 0.11%. The ex-dividend date of this dividend is Tuesday, July 1st. Quanta Services's payout ratio is 6.45%.

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.