Smith Group Asset Management LLC Cuts Stake in Quanta Services, Inc. (NYSE:PWR)

Smith Group Asset Management LLC lowered its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 21.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,000 shares of the construction company's stock after selling 1,620 shares during the period. Smith Group Asset Management LLC's holdings in Quanta Services were worth $1,525,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of PWR. Norges Bank purchased a new position in Quanta Services during the fourth quarter valued at $544,937,000. Capital World Investors boosted its holdings in Quanta Services by 14.1% in the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock worth $2,282,978,000 after buying an additional 891,977 shares during the last quarter. GAMMA Investing LLC increased its stake in Quanta Services by 22,475.0% during the 1st 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 in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Quanta Services during the fourth quarter valued at approximately $203,068,000. Finally, Bank of America Corp DE lifted its position in shares of Quanta Services by 42.8% in the fourth 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 in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PWR has been the subject of a number of research reports. BMO Capital Markets set a $352.00 target price on shares of Quanta Services in a report on Friday, May 2nd. Northland Capmk cut Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Wednesday. UBS Group set a $413.00 price target on Quanta Services and gave the company a "buy" rating in a research report on Thursday, June 12th. Argus set a $375.00 target price on Quanta Services in a report on Monday, May 5th. Finally, Wall Street Zen raised Quanta Services from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. Eight analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Quanta Services presently has a consensus rating of "Moderate Buy" and an average target price of $350.95.

Quanta Services Stock Performance

PWR traded up $13.10 during trading on Friday, hitting $386.51. 869,625 shares of the stock were exchanged, compared to its average volume of 1,121,521. The firm has a market capitalization of $57.31 billion, a P/E ratio of 62.34, a PEG ratio of 2.90 and a beta of 1.08. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $387.37. The stock has a fifty day moving average price of $345.50 and a two-hundred day moving average price of $308.25. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR - Get Free Report) last released 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. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The firm had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. During the same quarter in the prior year, the firm earned $1.41 EPS. Quanta Services's revenue for the quarter was up 23.9% on a year-over-year basis. As a group, sell-side analysts predict 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 will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.10%. The ex-dividend date is Tuesday, July 1st. Quanta Services's dividend payout ratio (DPR) is presently 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.