Lmcg Investments LLC Has $17.39 Million Position in Quanta Services, Inc. (NYSE:PWR)

Lmcg Investments LLC trimmed its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 4.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,328 shares of the construction company's stock after selling 2,940 shares during the quarter. Quanta Services accounts for 1.0% of Lmcg Investments LLC's portfolio, making the stock its 21st largest position. Lmcg Investments LLC's holdings in Quanta Services were worth $17,390,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PWR. Vanguard Group Inc. raised its holdings in shares of Quanta Services by 0.6% during the first quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company's stock worth $4,245,452,000 after acquiring an additional 105,355 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Quanta Services by 2.4% during the first quarter. JPMorgan Chase & Co. now owns 6,760,260 shares of the construction company's stock worth $1,756,316,000 after acquiring an additional 156,627 shares during the period. Capital World Investors raised its holdings in shares of Quanta Services by 10.7% during the first quarter. Capital World Investors now owns 6,643,733 shares of the construction company's stock worth $1,726,042,000 after acquiring an additional 643,011 shares during the period. Electron Capital Partners LLC raised its holdings 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 acquiring an additional 2,092,519 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Quanta Services by 17.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company's stock worth $313,968,000 after acquiring an additional 186,306 shares during the period. 90.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PWR has been the topic of several recent research reports. TD Cowen lifted their price target on shares of Quanta Services from $280.00 to $335.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. Robert W. Baird lifted their price target on shares of Quanta Services from $320.00 to $333.00 and gave the company an "outperform" rating in a research note on Friday. UBS Group lifted their price target on shares of Quanta Services from $313.00 to $367.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Citigroup lifted their price target on shares of Quanta Services from $302.00 to $348.00 and gave the company a "buy" rating in a research note on Friday, October 4th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Quanta Services in a research note on Monday, October 7th. They issued a "neutral" rating and a $297.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $314.27.

Quanta Services Stock Performance

Shares of PWR stock traded up $1.87 during midday trading on Friday, hitting $303.50. 913,124 shares of the company were exchanged, compared to its average volume of 661,167. The firm has a market capitalization of $44.71 billion, a P/E ratio of 56.00 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 1.23. The firm's 50 day moving average price is $290.40 and its two-hundred day moving average price is $272.68. Quanta Services, Inc. has a 52 week low of $163.93 and a 52 week high of $317.91.

Quanta Services (NYSE:PWR - Get Free Report) last announced its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.46 by $0.26. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. Quanta Services's revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.08 EPS. As a group, equities research analysts anticipate that Quanta Services, Inc. will post 7.82 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date was Tuesday, October 1st. Quanta Services's dividend payout ratio is currently 6.64%.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the business's stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total value of $34,087,300.00. Following the completion of the sale, the chief executive officer now owns 593,402 shares of the company's stock, valued at $155,595,938.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Karl W. Studer sold 23,357 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total value of $6,318,302.07. Following the completion of the transaction, the insider now directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the business's stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the completion of the transaction, the chief executive officer now owns 593,402 shares of the company's stock, valued at $155,595,938.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 202,357 shares of company stock valued at $53,115,572 in the last quarter. Company insiders own 1.10% of the company's stock.

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.