Lebenthal Global Advisors LLC Has $2.73 Million Holdings in Quanta Services, Inc. (NYSE:PWR)

Lebenthal Global Advisors LLC lifted its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 10.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,627 shares of the construction company's stock after buying an additional 832 shares during the quarter. Lebenthal Global Advisors LLC's holdings in Quanta Services were worth $2,727,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Versor Investments LP bought a new stake in shares of Quanta Services during the third quarter worth $406,000. Principal Financial Group Inc. raised its holdings in Quanta Services by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company's stock worth $61,932,000 after purchasing an additional 11,012 shares during the last quarter. Asio Capital LLC acquired a new position in Quanta Services during the 3rd quarter valued at about $2,715,000. Waverton Investment Management Ltd boosted its stake in shares of Quanta Services by 6.5% in the 3rd quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company's stock valued at $12,509,000 after purchasing an additional 2,557 shares during the last quarter. Finally, Synovus Financial Corp raised its stake in shares of Quanta Services by 34.0% during the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company's stock worth $2,148,000 after buying an additional 1,830 shares during the last quarter. Institutional investors own 90.49% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on PWR shares. Daiwa Capital Markets began coverage on shares of Quanta Services in a report on Friday, December 6th. They set an "outperform" rating and a $355.00 target price for the company. Guggenheim initiated coverage on Quanta Services in a research note on Wednesday, January 8th. They set a "neutral" rating for the company. Northland Securities restated an "outperform" rating and set a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. TD Cowen upped their price target on Quanta Services from $280.00 to $335.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. Finally, Citigroup lifted their price objective on shares of Quanta Services from $348.00 to $394.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $329.88.

Quanta Services Stock Down 18.3 %

Quanta Services stock traded down $65.42 during midday trading on Monday, reaching $292.61. The stock had a trading volume of 4,482,134 shares, compared to its average volume of 1,354,370. Quanta Services, Inc. has a 1-year low of $193.52 and a 1-year high of $365.88. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The firm's fifty day simple moving average is $332.01 and its 200-day simple moving average is $300.23. The stock has a market capitalization of $43.19 billion, a P/E ratio of 53.99 and a beta of 1.06.

Quanta Services (NYSE:PWR - Get Free Report) 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 business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm's revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.08 earnings per share. As a group, analysts expect that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were issued a $0.10 dividend. This is a boost from Quanta Services's previous quarterly dividend of $0.09. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. Quanta Services's dividend payout ratio (DPR) is presently 7.38%.

Quanta Services Company 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.