Wellington Management Group LLP Sells 39,838 Shares of Quanta Services, Inc. (NYSE:PWR)

Wellington Management Group LLP trimmed its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 97.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 1,080 shares of the construction company’s stock after selling 39,838 shares during the quarter. Wellington Management Group LLP’s holdings in Quanta Services were worth $341,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PWR. Banque Transatlantique SA acquired a new stake in Quanta Services during the fourth quarter worth about $25,000. Quarry LP acquired a new stake in shares of Quanta Services during the 4th quarter worth approximately $26,000. Sierra Ocean LLC acquired a new stake in shares of Quanta Services during the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC bought a new position in Quanta Services in the fourth quarter valued at approximately $34,000. Finally, Rakuten Securities Inc. lifted its stake in Quanta Services by 1,027.3% during the fourth quarter. Rakuten Securities Inc. now owns 124 shares of the construction company’s stock worth $39,000 after purchasing an additional 113 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Up 0.5%

Shares of PWR opened at $361.20 on Friday. The stock’s 50-day moving average price is $306.00 and its two-hundred day moving average price is $304.24. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $365.88. The company has a market capitalization of $53.55 billion, a PE ratio of 59.90, a PEG ratio of 1.41 and a beta of 1.07. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The company had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm’s quarterly revenue was up 23.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.41 earnings per share. On average, analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.40 annualized dividend and a yield of 0.11%. Quanta Services’s payout ratio is 6.45%.

Analyst Ratings Changes

Several brokerages have recently issued reports on PWR. Argus set a $375.00 price target on Quanta Services in a research note on Monday, May 5th. BMO Capital Markets set a $352.00 target price on Quanta Services in a research report on Friday, May 2nd. Daiwa Capital Markets cut shares of Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. DA Davidson raised their price target on shares of Quanta Services from $295.00 to $305.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Finally, Piper Sandler reiterated an “overweight” rating and set a $370.00 price objective (up from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. Six analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $347.35.

Quanta Services Company 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.