Lmcg Investments LLC Sells 2,940 Shares of Quanta Services, Inc. (NYSE:PWR)

Lmcg Investments LLC lowered its stake in Quanta Services, Inc. (NYSE:PWR) by 5.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 55,388 shares of the construction company’s stock after selling 2,940 shares during the quarter. Quanta Services makes up approximately 1.1% of Lmcg Investments LLC’s portfolio, making the stock its 21st largest holding. Lmcg Investments LLC’s holdings in Quanta Services were worth $17,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. XTX Topco Ltd grew its stake in Quanta Services by 31.6% in the 2nd quarter. XTX Topco Ltd now owns 1,872 shares of the construction company’s stock valued at $476,000 after buying an additional 449 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of Quanta Services by 13.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,704 shares of the construction company’s stock worth $433,000 after purchasing an additional 200 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Quanta Services by 242.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 43,664 shares of the construction company’s stock valued at $11,095,000 after buying an additional 30,899 shares during the last quarter. Bridges Investment Management Inc. bought a new position in Quanta Services in the 2nd quarter worth approximately $322,000. Finally, Pacer Advisors Inc. lifted its holdings in shares of Quanta Services by 0.9% during the second quarter. Pacer Advisors Inc. now owns 11,378 shares of the construction company’s stock worth $2,891,000 after buying an additional 102 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on PWR shares. Robert W. Baird increased their price target on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Daiwa America raised Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. TD Cowen upped their target price on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. UBS Group lifted their price target on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Daiwa Capital Markets started coverage on Quanta Services in a research note on Friday, December 6th. They issued an “outperform” rating and a $355.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $324.19.

Quanta Services Stock Performance

Shares of NYSE:PWR opened at $337.10 on Tuesday. The business has a 50-day moving average price of $329.50 and a two-hundred day moving average price of $297.36. The stock has a market capitalization of $49.76 billion, a P/E ratio of 62.20 and a beta of 1.06. Quanta Services, Inc. has a 1-year low of $187.27 and a 1-year high of $350.19. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58.

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 the consensus estimate 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 analyst estimates of $6.56 billion. During the same quarter last year, the firm earned $2.08 EPS. Quanta Services’s quarterly revenue was up 15.5% compared to the same quarter last year. Equities analysts predict that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were 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 was Thursday, January 2nd. Quanta Services’s payout ratio 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.