Rockefeller Capital Management L.P. Cuts Stock Position in Quanta Services, Inc. (NYSE:PWR)

Rockefeller Capital Management L.P. trimmed its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 12.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,510 shares of the construction company’s stock after selling 5,384 shares during the period. Rockefeller Capital Management L.P.’s holdings in Quanta Services were worth $11,478,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers grew its stake in shares of Quanta Services by 115.0% in the first quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock valued at $10,203,000 after buying an additional 21,003 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of Quanta Services by 32.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 415 shares of the construction company’s stock valued at $105,000 after purchasing an additional 101 shares during the period. Park Avenue Securities LLC lifted its position in shares of Quanta Services by 1.1% during the second quarter. Park Avenue Securities LLC now owns 16,739 shares of the construction company’s stock worth $4,253,000 after purchasing an additional 177 shares in the last quarter. AMF Tjanstepension AB purchased a new position in shares of Quanta Services in the second quarter valued at $8,310,000. Finally, CWM LLC grew its holdings in Quanta Services by 9.5% during the 2nd quarter. CWM LLC now owns 5,388 shares of the construction company’s stock valued at $1,369,000 after purchasing an additional 469 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PWR has been the subject of a number of analyst reports. Northland Securities reissued an “outperform” rating and issued a $328.00 price objective (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. JPMorgan Chase & Co. assumed coverage on Quanta Services in a report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price target for the company. Stifel Nicolaus lifted their price objective on Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. UBS Group raised their price target on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Wolfe Research initiated coverage on shares of Quanta Services in a research note on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price target for the company. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

Quanta Services Stock Down 0.6 %

Shares of Quanta Services stock opened at $342.33 on Tuesday. Quanta Services, Inc. has a twelve month low of $187.16 and a twelve month high of $350.19. The stock has a market capitalization of $50.53 billion, a price-to-earnings ratio of 63.16 and a beta of 1.01. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The business’s 50 day simple moving average is $316.64 and its 200-day simple moving average is $283.60.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter last year, the company earned $2.08 EPS. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. Equities research analysts forecast that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, January 2nd will be given a $0.10 dividend. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend is Thursday, January 2nd. Quanta Services’s dividend payout ratio (DPR) is currently 7.38%.

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.