Larson Financial Group LLC Sells 182 Shares of Quanta Services, Inc. (NYSE:PWR)

Larson Financial Group LLC lowered its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 30.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 423 shares of the construction company’s stock after selling 182 shares during the quarter. Larson Financial Group LLC’s holdings in Quanta Services were worth $126,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cambridge Trust Co. bought a new position in Quanta Services during the first quarter worth $26,000. Valley Wealth Managers Inc. bought a new stake in Quanta Services in the 2nd quarter valued at $33,000. Quest Partners LLC bought a new stake in Quanta Services in the 2nd quarter valued at $35,000. CarsonAllaria Wealth Management Ltd. bought a new stake in Quanta Services in the 2nd quarter valued at $38,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in Quanta Services in the 3rd quarter valued at $41,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Down 0.8 %

Shares of NYSE PWR opened at $343.94 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 12-month low of $180.97 and a 12-month high of $350.19. The company has a market cap of $50.77 billion, a price-to-earnings ratio of 63.46 and a beta of 1.01. The firm’s 50-day simple moving average is $313.56 and its 200 day simple moving average is $281.85.

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

Quanta Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, January 2nd. 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%. Quanta Services’s dividend payout ratio is presently 6.64%.

Wall Street Analysts Forecast Growth

PWR has been the topic of several analyst reports. Citigroup boosted their price target on shares of Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a report on Friday, October 4th. UBS Group boosted their target price on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Northland Securities restated an “outperform” rating and issued 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 boosted their target price on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Jefferies Financial Group initiated coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They issued a “hold” rating and a $256.00 target price on the stock. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and a consensus target price of $314.27.

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.