Marco Investment Management LLC Sells 1,931 Shares of Quanta Services, Inc. (NYSE:PWR)

Key Points

• Marco Investment Management LLC has reduced its holdings in Quanta Services, Inc. by 12.2%, selling 1,931 shares and leaving them with a total of 13,856 shares valued at approximately $3.52 million.
• Recent analysts' reports have resulted in varied adjustments to Quanta Services' price targets, with JPMorgan raising its target to $392.00 while Citigroup increased its target significantly to $492.00.
• Quanta Services' latest quarterly results showed a net margin of 3.74% and earnings per share (EPS) of $1.78, exceeding estimates and representing a year-over-year revenue increase of 23.9%.

Marco Investment Management LLC decreased its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 12.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,856 shares of the construction company's stock after selling 1,931 shares during the quarter. Marco Investment Management LLC's holdings in Quanta Services were worth $3,522,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Banque Transatlantique SA acquired a new stake in Quanta Services in the fourth quarter valued at $25,000. Quarry LP acquired a new stake in Quanta Services in the fourth quarter valued at $26,000. Cullen Frost Bankers Inc. bought a new position in shares of Quanta Services in the first quarter valued at about $25,000. OLD Second National Bank of Aurora bought a new position in shares of Quanta Services in the first quarter valued at about $42,000. Finally, University of Texas Texas AM Investment Management Co. bought a new position in shares of Quanta Services in the first quarter valued at about $43,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PWR shares. BMO Capital Markets lowered shares of Quanta Services from an "outperform" rating to a "market perform" rating and increased their price objective for the company from $352.00 to $400.00 in a research report on Thursday, July 17th. Seaport Res Ptn raised shares of Quanta Services to a "hold" rating in a research report on Thursday, July 10th. Wall Street Zen raised shares of Quanta Services from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Evercore ISI raised their price target on shares of Quanta Services from $331.00 to $360.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $370.00 price target (up from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. Eleven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Quanta Services has an average rating of "Moderate Buy" and a consensus target price of $375.23.

Quanta Services Price Performance

Shares of PWR traded down $10.37 during mid-day trading on Friday, reaching $395.76. The company had a trading volume of 1,438,678 shares, compared to its average volume of 1,442,678. The company's 50 day simple moving average is $374.19 and its 200 day simple moving average is $318.48. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $424.94. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.26 and a current ratio of 1.31. The company has a market capitalization of $58.68 billion, a price-to-earnings ratio of 63.83, a P/E/G ratio of 2.83 and a beta of 1.08.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.44 by $0.04. The business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.55 billion. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The firm's quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter last year, the business earned $1.90 EPS. Analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was 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.