Quanta Services, Inc. (NYSE:PWR) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. cut its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 41.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,257 shares of the construction company's stock after selling 7,386 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Quanta Services were worth $2,607,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Quanta Services during the 4th quarter valued at about $544,937,000. Capital World Investors raised its holdings in shares of 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 buying an additional 891,977 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Quanta Services by 22,475.0% during the first quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company's stock worth $207,261,000 after buying an additional 811,797 shares during the period. Raymond James Financial Inc. bought a new position in Quanta Services in the 4th quarter worth approximately $203,068,000. Finally, Bank of America Corp DE increased its position in Quanta Services by 42.8% in the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock valued at $534,647,000 after acquiring an additional 506,722 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Up 0.0%

Shares of Quanta Services stock opened at $360.51 on Monday. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $367.00. The firm has a market capitalization of $53.45 billion, a PE ratio of 58.15, a price-to-earnings-growth ratio of 2.81 and a beta of 1.07. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. The stock's fifty day moving average is $326.30 and its 200-day moving average is $305.14.

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

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date of this dividend is Tuesday, July 1st. Quanta Services's dividend payout ratio is 6.45%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PWR shares. Daiwa America upgraded Quanta Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Stifel Nicolaus upped their price objective on shares of Quanta Services from $306.00 to $363.00 and gave the stock a "buy" rating in a report on Monday, May 5th. UBS Group set a $413.00 target price on shares of Quanta Services and gave the company a "buy" rating in a research note on Thursday, June 12th. B. Riley upped their price target on shares of Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $414.00 price objective (up from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. Six investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $349.65.

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.

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