Quanta Services, Inc. (NYSE:PWR) Shares Sold by Pinebridge Investments L.P.

Pinebridge Investments L.P. decreased its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 42.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,568 shares of the construction company's stock after selling 23,420 shares during the quarter. Pinebridge Investments L.P.'s holdings in Quanta Services were worth $9,977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of PWR. Webster Bank N. A. boosted its holdings in shares of Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock worth $26,000 after purchasing an additional 81 shares during the period. Sierra Ocean LLC bought a new stake in Quanta Services in the fourth quarter worth $27,000. Sound Income Strategies LLC increased its position in Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock valued at $33,000 after acquiring an additional 91 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Quanta Services in the 4th quarter worth about $34,000. Finally, Versant Capital Management Inc grew its holdings in Quanta Services by 62.5% during the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company's stock valued at $37,000 after purchasing an additional 45 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Performance

PWR stock traded down $3.50 during midday trading on Wednesday, reaching $288.88. The stock had a trading volume of 459,236 shares, compared to its average volume of 1,611,556. 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 firm has a fifty day simple moving average of $262.08 and a two-hundred day simple moving average of $300.21. The stock has a market cap of $42.83 billion, a PE ratio of 47.91, a P/E/G ratio of 1.41 and a beta of 1.04. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $365.88.

Quanta Services (NYSE:PWR - Get Free Report) last released its earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping analysts' consensus estimates of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. As a group, equities research analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. Quanta Services's dividend payout ratio (DPR) is presently 6.63%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Bank of America began coverage on Quanta Services in a research report on Friday, January 24th. They set a "buy" rating and a $407.00 target price for the company. The Goldman Sachs Group reduced their target price on shares of Quanta Services from $418.00 to $364.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Daiwa Capital Markets downgraded Quanta Services from an "outperform" rating to a "neutral" rating in a report on Monday, February 24th. Citigroup lowered their target price on Quanta Services from $366.00 to $342.00 and set a "buy" rating for the company in a report on Friday, April 25th. Finally, Stifel Nicolaus lowered their price objective on shares of Quanta Services from $323.00 to $287.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Six equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $321.70.

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.