Bourgeon Capital Management LLC Sells 524 Shares of Quanta Services, Inc. (NYSE:PWR)

Bourgeon Capital Management LLC cut its holdings in Quanta Services, Inc. (NYSE:PWR) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,918 shares of the construction company’s stock after selling 524 shares during the period. Quanta Services makes up 2.2% of Bourgeon Capital Management LLC’s investment portfolio, making the stock its 15th biggest holding. Bourgeon Capital Management LLC’s holdings in Quanta Services were worth $11,984,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PWR. State Street Corp boosted its holdings in shares of Quanta Services by 1.6% during the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock worth $1,713,956,000 after buying an additional 89,975 shares during the period. Geode Capital Management LLC lifted its position in 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 acquiring an additional 46,357 shares during the last quarter. Electron Capital Partners LLC boosted its holdings in 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 valued at $666,260,000 after acquiring an additional 2,092,519 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of 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 purchasing an additional 43,715 shares during the last quarter. Finally, Swedbank AB increased its stake in shares of Quanta Services by 4.6% in the third quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock worth $286,248,000 after purchasing an additional 42,579 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Price Performance

Quanta Services stock opened at $358.12 on Wednesday. The business has a 50 day simple moving average of $330.11 and a 200 day simple moving average of $298.10. Quanta Services, Inc. has a one year low of $187.27 and a one year high of $358.72. The company has a market capitalization of $52.86 billion, a PE ratio of 66.07 and a beta of 1.06. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.46 by $0.26. The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.08 EPS. On average, sell-side analysts forecast that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a $0.10 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.11%. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is 7.38%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PWR. Northland Securities restated an “outperform” rating and set a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Robert W. Baird increased their price objective on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Daiwa Capital Markets started coverage on shares of Quanta Services in a report on Friday, December 6th. They issued an “outperform” rating and a $355.00 price target for the company. Finally, Stifel Nicolaus boosted their price objective on shares of Quanta Services from $343.00 to $374.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $324.19.

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.