Lionsbridge Wealth Management LLC Reduces Holdings in Quanta Services, Inc. (NYSE:PWR)

Lionsbridge Wealth Management LLC reduced its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 9.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,866 shares of the construction company's stock after selling 1,097 shares during the period. Quanta Services accounts for about 2.9% of Lionsbridge Wealth Management LLC's investment portfolio, making the stock its 10th largest position. Lionsbridge Wealth Management LLC's holdings in Quanta Services were worth $3,434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the stock. State Street Corp grew its position in Quanta Services by 1.6% during the third quarter. State Street Corp now owns 5,748,637 shares of the construction company's stock valued at $1,713,956,000 after acquiring an additional 89,975 shares during the period. Geode Capital Management LLC grew its holdings in shares of Quanta Services by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company's stock worth $1,027,887,000 after purchasing an additional 46,357 shares during the period. Electron Capital Partners LLC increased its position in Quanta Services by 395.1% during the 2nd quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company's stock worth $666,260,000 after purchasing an additional 2,092,519 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Quanta Services by 4.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company's stock valued at $316,055,000 after buying an additional 43,715 shares during the period. Finally, Swedbank AB lifted its position in Quanta Services by 4.6% during the third quarter. Swedbank AB now owns 960,081 shares of the construction company's stock valued at $286,248,000 after buying an additional 42,579 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in 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 on the stock. Stifel Nicolaus upped their target price on Quanta Services from $343.00 to $374.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. Citigroup raised their target price on Quanta Services from $348.00 to $394.00 and gave the company a "buy" rating in a report on Monday, December 9th. UBS Group upped their price target on Quanta Services from $313.00 to $367.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Finally, TD Cowen lifted their price objective 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. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Quanta Services currently has a consensus rating of "Moderate Buy" and a consensus price target of $324.19.

Quanta Services Stock Performance

Shares of PWR traded up $0.91 during midday trading on Monday, hitting $337.10. 1,358,031 shares of the stock traded hands, compared to its average volume of 847,447. The firm has a market capitalization of $49.76 billion, a PE ratio of 62.20 and a beta of 1.06. The business's 50 day moving average price is $329.35 and its two-hundred day moving average price is $296.78. Quanta Services, Inc. has a 1-year low of $187.27 and a 1-year high of $350.19. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23.

Quanta Services (NYSE:PWR - Get Free Report) last posted 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 firm had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. Quanta Services's quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.08 EPS. Equities research analysts predict that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date was Thursday, January 2nd. This is a positive change from Quanta Services's previous quarterly dividend of $0.09. Quanta Services's payout ratio is 7.38%.

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.