Lmcg Investments LLC Has $17.51 Million Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Lmcg Investments LLC cut its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,388 shares of the construction company's stock after selling 2,940 shares during the period. Quanta Services accounts for about 1.1% of Lmcg Investments LLC's investment 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 filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of PWR. Prestige Wealth Management Group LLC bought a new stake in shares of Quanta Services during the third quarter worth approximately $30,000. Legacy Investment Solutions LLC acquired a new stake in Quanta Services during the 3rd quarter worth $31,000. Versant Capital Management Inc raised its position in shares of Quanta Services by 62.5% during the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company's stock valued at $37,000 after acquiring an additional 45 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of Quanta Services in the 3rd quarter worth $41,000. Finally, Eastern Bank bought a new position in shares of Quanta Services in the 3rd quarter worth $44,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PWR has been the topic of several analyst reports. Truist Financial cut their target price on Quanta Services from $399.00 to $398.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. 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 research report on Friday, November 1st. Stifel Nicolaus boosted their price objective on shares of Quanta Services from $343.00 to $374.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. Guggenheim assumed coverage on shares of Quanta Services in a report on Wednesday, January 8th. They issued a "neutral" rating on the stock. Finally, Daiwa Capital Markets started coverage on shares of Quanta Services in a report on Friday, December 6th. They issued an "outperform" rating and a $355.00 price target for the company. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Quanta Services has an average rating of "Moderate Buy" and a consensus target price of $324.19.

Quanta Services Stock Up 6.1 %

NYSE:PWR traded up $20.66 on Tuesday, hitting $358.12. 1,891,953 shares of the company's stock were exchanged, compared to its average volume of 1,129,833. The company has a market cap of $52.86 billion, a P/E ratio of 66.07 and a beta of 1.06. The firm has a 50-day moving average price of $330.11 and a 200-day moving average price of $298.10. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. Quanta Services, Inc. has a 52 week low of $187.27 and a 52 week high of $358.72.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $6.56 billion. During the same period in the prior year, the firm posted $2.08 earnings per share. The business's quarterly revenue was up 15.5% compared to the same quarter last year. As a group, analysts expect that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The company also recently declared 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 was Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.11%. This is a boost from Quanta Services's previous quarterly dividend of $0.09. Quanta Services's dividend payout ratio (DPR) is currently 7.38%.

About Quanta Services

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.