Wellington Management Group LLP Sells 82,231 Shares of Quanta Services, Inc. (NYSE:PWR)

Wellington Management Group LLP lessened its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 66.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,918 shares of the construction company's stock after selling 82,231 shares during the period. Wellington Management Group LLP's holdings in Quanta Services were worth $12,200,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Valley Wealth Managers Inc. purchased a new stake in shares of Quanta Services during the 2nd quarter valued at about $33,000. Quest Partners LLC acquired a new position in shares of Quanta Services during the second quarter worth $35,000. CarsonAllaria Wealth Management Ltd. acquired a new stake in Quanta Services during the 2nd quarter valued at $38,000. MidAtlantic Capital Management Inc. purchased a new stake in Quanta Services during the 3rd quarter worth $41,000. Finally, Eastern Bank purchased a new stake in Quanta Services during the 3rd quarter worth $44,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Stock Performance

Shares of PWR stock traded up $1.50 on Friday, reaching $337.60. The stock had a trading volume of 1,121,605 shares, compared to its average volume of 864,533. Quanta Services, Inc. has a 12 month low of $187.27 and a 12 month 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 firm has a market capitalization of $49.83 billion, a price-to-earnings ratio of 62.29 and a beta of 1.03. The firm's 50-day moving average is $322.72 and its two-hundred day moving average is $287.22.

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 (EPS) for the quarter, beating the consensus estimate of $2.46 by $0.26. The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.08 earnings per share. On average, research analysts expect that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This is a positive change 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 dividend payout ratio is presently 6.64%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wolfe Research began coverage on shares of Quanta Services in a research report on Thursday, September 19th. They set an "outperform" rating and a $313.00 price target for the company. UBS Group boosted their target price on shares of Quanta Services from $313.00 to $367.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Jefferies Financial Group started coverage on shares of Quanta Services in a research report on Wednesday, September 4th. They set a "hold" rating and a $256.00 price target on the stock. JPMorgan Chase & Co. initiated coverage on Quanta Services in a report on Monday, October 7th. They issued a "neutral" rating and a $297.00 price objective for the company. Finally, Robert W. Baird increased their target price on Quanta Services from $320.00 to $333.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Four 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. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $321.69.

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.