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

Wellington Management Group LLP trimmed its position in shares of Quanta Services, Inc. (NYSE:PWR) by 66.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 40,918 shares of the construction company’s stock after selling 82,231 shares during the quarter. Wellington Management Group LLP’s holdings in Quanta Services were worth $12,200,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Valley Wealth Managers Inc. bought a new stake in shares of Quanta Services during the second quarter valued at approximately $33,000. Quest Partners LLC purchased a new position in shares of Quanta Services in the second quarter worth $35,000. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Quanta Services during the second quarter valued at $38,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Quanta Services during the third quarter valued at $41,000. Finally, Eastern Bank bought a new stake in Quanta Services in the 3rd quarter worth about $44,000. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Price Performance

NYSE:PWR opened at $337.60 on Friday. The stock has a market cap of $49.83 billion, a PE ratio of 62.29 and a beta of 1.03. 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 business’s 50-day simple moving average is $322.72 and its two-hundred day simple moving average is $287.16. Quanta Services, Inc. has a 52 week low of $187.27 and a 52 week high of $350.19.

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

Quanta Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be issued a $0.10 dividend. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date is Thursday, January 2nd. Quanta Services’s payout ratio is currently 7.38%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wolfe Research initiated coverage on shares of Quanta Services in a report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price target on the stock. Citigroup raised their target price on shares of Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Stifel Nicolaus boosted their target price on shares of Quanta Services from $343.00 to $374.00 and gave the company a “buy” rating in a research note on Wednesday. Northland Securities reaffirmed an “outperform” rating and issued a $328.00 price objective (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Finally, UBS Group upped their price objective on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. 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. Based on data from MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and an average target price of $321.69.

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.