Quanta Services, Inc. (NYSE:PWR) Stake Trimmed by Lionsbridge Wealth Management LLC

Lionsbridge Wealth Management LLC cut its position in Quanta Services, Inc. (NYSE:PWR) by 9.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,866 shares of the construction company’s stock after selling 1,097 shares during the period. Quanta Services comprises 2.9% of Lionsbridge Wealth Management LLC’s portfolio, making the stock its 10th largest holding. Lionsbridge Wealth Management LLC’s holdings in Quanta Services were worth $3,434,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several research analysts have commented on PWR shares. Truist Financial dropped their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a report on Thursday. Daiwa Capital Markets began coverage on Quanta Services in a research note on Friday, December 6th. They set an “outperform” rating and a $355.00 price target for the company. JPMorgan Chase & Co. began coverage on Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 price objective on the stock. Northland Securities reaffirmed an “outperform” rating and set a $328.00 price objective (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Finally, Citigroup raised their target price on shares of Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a report on Monday, December 9th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and an average target price of $324.19.

Quanta Services Price Performance

PWR stock opened at $337.10 on Monday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 12 month low of $187.27 and a 12 month high of $350.19. The stock has a market cap of $49.76 billion, a PE ratio of 62.20 and a beta of 1.06. The company has a 50-day moving average price of $329.35 and a 200 day moving average price of $296.78.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS 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 for the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter in the prior year, the firm posted $2.08 earnings per share. The company’s quarterly revenue was up 15.5% on a year-over-year basis. Equities research analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

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

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.