Wellington Management Group LLP Trims Stake in Quanta Services, Inc. (NYSE:PWR)

Wellington Management Group LLP cut its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 97.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,080 shares of the construction company's stock after selling 39,838 shares during the period. Wellington Management Group LLP's holdings in Quanta Services were worth $341,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PWR. Kestra Private Wealth Services LLC raised its holdings in shares of Quanta Services by 85.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company's stock valued at $1,502,000 after purchasing an additional 2,184 shares during the last quarter. Allstate Corp purchased a new stake in Quanta Services during the fourth quarter valued at approximately $1,357,000. Brighton Jones LLC purchased a new stake in Quanta Services during the fourth quarter valued at approximately $298,000. Quaero Capital S.A. increased its holdings in Quanta Services by 198.2% during the fourth quarter. Quaero Capital S.A. now owns 7,128 shares of the construction company's stock valued at $2,253,000 after buying an additional 4,738 shares during the last quarter. Finally, Truist Financial Corp increased its holdings in Quanta Services by 3.9% during the fourth quarter. Truist Financial Corp now owns 479,857 shares of the construction company's stock valued at $151,659,000 after buying an additional 18,206 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. The Goldman Sachs Group reaffirmed a "buy" rating and set a $414.00 target price (up from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. Daiwa Capital Markets cut shares of Quanta Services from an "outperform" rating to a "neutral" rating in a report on Monday, February 24th. Piper Sandler reaffirmed an "overweight" rating and set a $370.00 target price (up from $360.00) on shares of Quanta Services in a report on Tuesday, May 27th. Truist Financial dropped their price target on shares of Quanta Services from $398.00 to $324.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Finally, Daiwa America upgraded shares of Quanta Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Six analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $347.35.

Quanta Services Price Performance

PWR stock traded up $7.00 during trading on Wednesday, hitting $355.76. 857,186 shares of the company's stock traded hands, compared to its average volume of 1,518,323. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $365.88. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The business has a fifty day simple moving average of $312.08 and a 200 day simple moving average of $304.75. The stock has a market capitalization of $52.75 billion, a price-to-earnings ratio of 59.00, a P/E/G ratio of 1.41 and a beta of 1.07.

Quanta Services (NYSE:PWR - Get Free Report) last announced its earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.06. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.88 billion. During the same quarter in the prior year, the firm posted $1.41 earnings per share. The business's revenue for the quarter was up 23.9% on a year-over-year basis. As a group, research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be paid a $0.10 dividend. 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 dividend payout ratio is currently 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.