Rockefeller Capital Management L.P. Trims Holdings in Quanta Services, Inc. (NYSE:PWR)

Rockefeller Capital Management L.P. decreased its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 12.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,510 shares of the construction company's stock after selling 5,384 shares during the period. Rockefeller Capital Management L.P.'s holdings in Quanta Services were worth $11,478,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of PWR. Tower Wealth Partners Inc. boosted its position in Quanta Services by 3.1% in the third quarter. Tower Wealth Partners Inc. now owns 1,122 shares of the construction company's stock worth $335,000 after purchasing an additional 34 shares during the last quarter. Huntington National Bank grew its position in Quanta Services by 2.9% during the third quarter. Huntington National Bank now owns 1,240 shares of the construction company's stock valued at $370,000 after buying an additional 35 shares during the period. Terra Nova Asset Management LLC increased its holdings in Quanta Services by 0.3% during the third quarter. Terra Nova Asset Management LLC now owns 12,779 shares of the construction company's stock worth $3,810,000 after buying an additional 38 shares during the last quarter. Greenleaf Trust raised its position in Quanta Services by 1.2% in the third quarter. Greenleaf Trust now owns 3,154 shares of the construction company's stock worth $940,000 after acquiring an additional 38 shares during the period. Finally, EP Wealth Advisors LLC boosted its stake in Quanta Services by 0.6% in the second quarter. EP Wealth Advisors LLC now owns 6,994 shares of the construction company's stock valued at $1,777,000 after acquiring an additional 39 shares during the last quarter. Institutional investors own 90.49% of the company's stock.

Quanta Services Trading Down 0.8 %

Shares of PWR traded down $2.59 during trading hours on Tuesday, hitting $339.74. The company had a trading volume of 785,604 shares, compared to its average volume of 891,639. Quanta Services, Inc. has a 52-week low of $187.16 and a 52-week high of $350.19. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The stock's 50 day moving average price is $316.64 and its 200 day moving average price is $283.60. The firm has a market cap of $50.15 billion, a P/E ratio of 62.68 and a beta of 1.03.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $6.56 billion. During the same quarter 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. On average, research analysts predict that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This is a boost from Quanta Services's previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. Quanta Services's payout ratio is 6.64%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PWR shares. 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 report on Tuesday, October 15th. JPMorgan Chase & Co. started coverage on shares of Quanta Services in a research note on Monday, October 7th. They issued a "neutral" rating and a $297.00 target price for the company. Stifel Nicolaus upped their price target on shares of Quanta Services from $283.00 to $342.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Robert W. Baird boosted their target price on shares of Quanta Services from $320.00 to $333.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Finally, Wolfe Research initiated coverage on Quanta Services in a research report on Thursday, September 19th. They issued an "outperform" rating and a $313.00 price target for the company. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Quanta Services presently has an average rating of "Moderate Buy" and an average price target of $314.27.

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.