Malaga Cove Capital LLC Sells 126 Shares of Quanta Services, Inc. (NYSE:PWR)

Malaga Cove Capital LLC lowered its stake in Quanta Services, Inc. (NYSE:PWR) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,498 shares of the construction company’s stock after selling 126 shares during the quarter. Quanta Services makes up approximately 1.9% of Malaga Cove Capital LLC’s investment portfolio, making the stock its 8th largest position. Malaga Cove Capital LLC’s holdings in Quanta Services were worth $4,898,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Banque Transatlantique SA acquired a new stake in shares of Quanta Services in the fourth quarter valued at about $25,000. Webster Bank N. A. grew its position in shares of Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Quarry LP acquired a new position in shares of Quanta Services in the fourth quarter valued at approximately $26,000. Sierra Ocean LLC acquired a new position in shares of Quanta Services in the fourth quarter valued at approximately $27,000. Finally, Sound Income Strategies LLC grew its position in shares of Quanta Services by 700.0% in the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after purchasing an additional 91 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Up 3.5%

Shares of NYSE PWR opened at $344.56 on Wednesday. The company has a market cap of $51.09 billion, a P/E ratio of 57.14, a P/E/G ratio of 1.41 and a beta of 1.02. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The business has a 50-day simple moving average of $275.22 and a two-hundred day simple moving average of $301.05. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $365.88.

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

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. Quanta Services’s payout ratio is 6.45%.

Analyst Ratings Changes

Several brokerages recently issued reports on PWR. Roth Mkm began coverage on Quanta Services in a research note on Friday, February 21st. They issued a “buy” rating and a $350.00 price target for the company. The Goldman Sachs Group lowered their target price on Quanta Services from $418.00 to $364.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. TD Cowen boosted their price target on Quanta Services from $335.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Daiwa Capital Markets cut Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Finally, Evercore ISI increased their price target on Quanta Services from $331.00 to $360.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and an average price target of $344.35.

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.