Quanta Services, Inc. (NYSE:PWR) Shares Sold by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC trimmed its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 72.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,438 shares of the construction company's stock after selling 8,961 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Quanta Services were worth $1,086,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Quanta Services by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company's stock valued at $5,375,828,000 after acquiring an additional 161,277 shares during the last quarter. Capital World Investors lifted its stake in Quanta Services by 14.1% in 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. Geode Capital Management LLC boosted 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 acquiring an additional 99,416 shares during the period. Invesco Ltd. increased its holdings in shares of Quanta Services by 3.7% in the 4th quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company's stock valued at $604,871,000 after acquiring an additional 68,565 shares during the period. Finally, Norges Bank acquired a new stake in Quanta Services during the 4th quarter worth $544,937,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Trading Down 0.3 %

Shares of PWR stock traded down $0.89 during trading hours on Friday, hitting $321.04. 2,062,545 shares of the company were exchanged, compared to its average volume of 1,651,828. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $365.88. The firm has a fifty day moving average of $264.93 and a 200 day moving average of $300.35. The firm has a market cap of $47.60 billion, a PE ratio of 53.24, a PEG ratio of 1.41 and a beta of 1.04. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

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

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend was Thursday, April 3rd. Quanta Services's payout ratio is 6.63%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PWR. JPMorgan Chase & Co. increased their target price on shares of Quanta Services from $297.00 to $323.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Stifel Nicolaus decreased their price target on Quanta Services from $323.00 to $287.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Evercore ISI boosted their price objective on shares of Quanta Services from $331.00 to $360.00 and gave the company an "outperform" rating in a research note on Friday. Daiwa Capital Markets cut shares of Quanta Services from an "outperform" rating to a "neutral" rating in a research note on Monday, February 24th. Finally, B. Riley increased their price target on shares of Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a report on Friday. Six equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Quanta Services has an average rating of "Moderate Buy" and a consensus price target of $330.80.

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.