Lmcg Investments LLC Cuts Position in Quanta Services, Inc. (NYSE:PWR)

Lmcg Investments LLC lowered its holdings in Quanta Services, Inc. (NYSE:PWR) by 5.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,388 shares of the construction company’s stock after selling 2,940 shares during the period. Quanta Services makes up 1.1% of Lmcg Investments LLC’s portfolio, making the stock its 21st biggest position. Lmcg Investments LLC’s holdings in Quanta Services were worth $17,505,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Electron Capital Partners LLC lifted its stake in shares of Quanta Services by 395.1% during the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock worth $666,260,000 after purchasing an additional 2,092,519 shares in the last quarter. Alkeon Capital Management LLC lifted its stake in shares of Quanta Services by 62.5% in the third quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock worth $193,798,000 after acquiring an additional 250,000 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in Quanta Services by 4,701.7% in the second quarter. Public Sector Pension Investment Board now owns 153,559 shares of the construction company’s stock valued at $39,018,000 after purchasing an additional 150,361 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Quanta Services by 29,655.3% during the 3rd quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company’s stock worth $44,269,000 after purchasing an additional 147,980 shares during the last quarter. Finally, Meitav Investment House Ltd. acquired a new position in shares of Quanta Services in the 3rd quarter valued at approximately $27,430,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PWR shares. Stifel Nicolaus lifted their price target on shares of Quanta Services from $343.00 to $374.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. UBS Group raised their target price on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. assumed coverage on Quanta Services in a research note on Monday, October 7th. They set a “neutral” rating and a $297.00 price objective for the company. Finally, Northland Securities restated an “outperform” rating and set a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $324.19.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $337.10 on Tuesday. The company has a market cap of $49.76 billion, a P/E ratio of 62.20 and a beta of 1.06. The company’s fifty day moving average is $329.50 and its two-hundred day moving average is $297.36. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 12-month low of $187.27 and a 12-month high of $350.19.

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

Quanta Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is 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.