Gradient Investments cuts Quanta Services stake by 18.9% amid strong earnings and raised price targets.

Gradient Investments LLC sold 13,310 shares of Quanta Services, reducing its stake by 18.9% to 57,159 shares worth $24.1 million. Quanta Services recently reported better-than-expected Q4 earnings, with EPS of $3.16 beating estimates and revenue rising 19.7% year-over-year. The company also announced a quarterly dividend of $0.11 per share. Several analysts raised their price targets, with Goldman Sachs and JPMorgan among those upgrading their ratings, reflecting optimism about Quanta's growth prospects in infrastructure and energy sectors.