Quanta Services, Inc. (NYSE:PWR) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC lessened its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 3.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 158,170 shares of the construction company's stock after selling 5,470 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.11% of Quanta Services worth $49,990,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PWR. Geneos Wealth Management Inc. raised its stake in Quanta Services by 0.7% in the 4th quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company's stock valued at $1,317,000 after purchasing an additional 29 shares during the last quarter. Commonwealth Financial Services LLC grew its holdings in Quanta Services by 2.6% in the fourth quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company's stock valued at $364,000 after purchasing an additional 29 shares during the period. HB Wealth Management LLC increased its position in Quanta Services by 0.9% during the fourth quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company's stock worth $1,050,000 after purchasing an additional 31 shares during the last quarter. Moody Lynn & Lieberson LLC raised its stake in Quanta Services by 0.5% during the fourth quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company's stock worth $1,941,000 after purchasing an additional 32 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in shares of Quanta Services by 7.8% in the 4th quarter. Larson Financial Group LLC now owns 456 shares of the construction company's stock valued at $144,000 after purchasing an additional 33 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Analyst Ratings Changes

PWR has been the topic of a number of research analyst reports. The Goldman Sachs Group decreased their price target on shares of Quanta Services from $418.00 to $364.00 and set a "buy" rating on the stock in a report on Thursday. B. Riley reiterated a "neutral" rating and issued a $300.00 price target (down previously from $343.00) on shares of Quanta Services in a report on Wednesday, March 19th. Roth Capital upgraded shares of Quanta Services to a "strong-buy" rating in a report on Thursday, February 20th. Citigroup decreased their price target on shares of Quanta Services from $366.00 to $342.00 and set a "buy" rating on the stock in a report on Friday. Finally, BMO Capital Markets upgraded shares of Quanta Services from a "market perform" rating to an "outperform" rating and decreased their price target for the company from $338.00 to $316.00 in a report on Tuesday, February 25th. Six investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $321.70.

Quanta Services Stock Up 1.5 %

Quanta Services stock traded up $4.18 during midday trading on Monday, hitting $291.52. 1,058,534 shares of the stock were exchanged, compared to its average volume of 1,633,555. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $365.88. The firm has a market cap of $43.22 billion, a P/E ratio of 48.35, a P/E/G ratio of 1.41 and a beta of 1.04. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The company has a 50 day moving average price of $261.84 and a two-hundred day moving average price of $300.27.

Quanta Services (NYSE:PWR - Get Free Report) last released its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.12. The company had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. On average, sell-side analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend was Thursday, April 3rd. Quanta Services's payout ratio is currently 6.63%.

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.