Quanta Services, Inc. (NYSE:PWR) Shares Sold by Marco Investment Management LLC

Marco Investment Management LLC decreased its position in Quanta Services, Inc. (NYSE:PWR) by 12.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,856 shares of the construction company’s stock after selling 1,931 shares during the quarter. Marco Investment Management LLC’s holdings in Quanta Services were worth $3,522,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Banque Transatlantique SA acquired a new stake in Quanta Services during the fourth quarter worth approximately $25,000. Cullen Frost Bankers Inc. acquired a new stake in Quanta Services during the first quarter worth approximately $25,000. Quarry LP acquired a new stake in Quanta Services during the fourth quarter worth approximately $26,000. OLD Second National Bank of Aurora acquired a new stake in Quanta Services during the first quarter worth approximately $42,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in Quanta Services during the first quarter worth approximately $43,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Performance

NYSE:PWR opened at $411.57 on Tuesday. The firm’s fifty day moving average price is $369.96 and its 200 day moving average price is $316.54. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $424.94. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 1.26. The firm has a market cap of $61.02 billion, a price-to-earnings ratio of 66.38, a price-to-earnings-growth ratio of 2.90 and a beta of 1.08.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The firm had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. During the same period last year, the firm posted $1.41 EPS. Quanta Services’s quarterly revenue was up 23.9% on a year-over-year basis. On average, sell-side analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were given a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.10%. Quanta Services’s dividend payout ratio (DPR) is 6.45%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PWR shares. Wall Street Zen raised shares of Quanta Services from a “hold” rating to a “buy” rating in a report on Friday, June 27th. BMO Capital Markets cut shares of Quanta Services from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $352.00 to $400.00 in a report on Thursday, July 17th. Evercore ISI raised their price objective on shares of Quanta Services from $331.00 to $360.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Citigroup raised their price objective on shares of Quanta Services from $432.00 to $492.00 and gave the stock a “buy” rating in a report on Monday. Finally, B. Riley raised their price objective on shares of Quanta Services from $300.00 to $355.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Eleven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $371.67.

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.