Lmcg Investments LLC decreased its stake in Quanta Services, Inc. (NYSE:PWR – Get Rating) by 0.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 68,734 shares of the construction company's stock after selling 342 shares during the quarter. Lmcg Investments LLC's holdings in Quanta Services were worth $8,756,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the stock. Wolverine Asset Management LLC acquired a new position in Quanta Services in the 2nd quarter worth about $1,504,000. Franklin Resources Inc. raised its holdings in Quanta Services by 52.9% in the 2nd quarter. Franklin Resources Inc. now owns 900,611 shares of the construction company's stock worth $112,884,000 after purchasing an additional 311,496 shares during the period. Stephens Inc. AR raised its holdings in Quanta Services by 7.0% in the 3rd quarter. Stephens Inc. AR now owns 3,755 shares of the construction company's stock worth $478,000 after purchasing an additional 246 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its holdings in Quanta Services by 16.1% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 10,038 shares of the construction company's stock worth $1,258,000 after purchasing an additional 1,389 shares during the period. Finally, Korea Investment CORP acquired a new position in Quanta Services in the 2nd quarter worth about $5,766,000. Hedge funds and other institutional investors own 89.29% of the company's stock.
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Wall Street Analysts Forecast Growth
A number of brokerages have commented on PWR. StockNews.com initiated coverage on Quanta Services in a report on Wednesday, October 12th. They set a "hold" rating for the company. UBS Group increased their price target on Quanta Services to $170.00 in a report on Monday, November 21st. Cowen increased their price target on Quanta Services from $155.00 to $165.00 and gave the company an "outperform" rating in a report on Tuesday, December 27th. Credit Suisse Group increased their price target on Quanta Services from $168.00 to $186.00 and gave the company an "outperform" rating in a report on Friday, November 4th. Finally, Cowen increased their price objective on Quanta Services from $155.00 to $165.00 in a research report on Tuesday, December 27th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Quanta Services has an average rating of "Moderate Buy" and an average target price of $158.92.
Quanta Services Trading Up 0.0 %
Shares of PWR traded up $0.04 during midday trading on Monday, hitting $150.04. 299,569 shares of the stock were exchanged, compared to its average volume of 884,483. Quanta Services, Inc. has a 52-week low of $97.00 and a 52-week high of $155.00. The stock has a fifty day simple moving average of $145.88 and a 200 day simple moving average of $140.78. The firm has a market cap of $21.44 billion, a P/E ratio of 51.19 and a beta of 1.10. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.57 and a current ratio of 1.60.
Quanta Services (NYSE:PWR – Get Rating) last released its quarterly earnings results on Thursday, November 3rd. The construction company reported $1.62 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.01). Quanta Services had a return on equity of 16.35% and a net margin of 2.61%. The firm had revenue of $4.46 billion for the quarter, compared to analysts' expectations of $4.38 billion. On average, research analysts anticipate that Quanta Services, Inc. will post 5.77 EPS for the current fiscal year.
Quanta Services Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Tuesday, January 3rd were paid a $0.08 dividend. This is a boost from Quanta Services's previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a dividend yield of 0.21%. The ex-dividend date was Friday, December 30th. Quanta Services's dividend payout ratio (DPR) is presently 10.92%.
Quanta Services Company Profile
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Quanta Services, Inc is engaged in the provision of specialty contracting services, offering infrastructure solutions to the electric power, oil and gas, and communication industries. It is operated through the following segments: Electric Power Infrastructure Services, and Underground Utility & Infrastructure Solutions.
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