Hollow Brook Wealth Management LLC Buys 590 Shares of Quanta Services, Inc. (NYSE:PWR)

Hollow Brook Wealth Management LLC lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 3.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,218 shares of the construction company’s stock after acquiring an additional 590 shares during the quarter. Quanta Services makes up approximately 1.6% of Hollow Brook Wealth Management LLC’s holdings, making the stock its 20th biggest position. Hollow Brook Wealth Management LLC’s holdings in Quanta Services were worth $5,432,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its position in shares of Quanta Services by 1.0% during the 1st quarter. Janus Henderson Group PLC now owns 21,065 shares of the construction company’s stock valued at $5,469,000 after purchasing an additional 201 shares during the period. Cetera Investment Advisers raised its holdings in Quanta Services by 115.0% during the first quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock valued at $10,203,000 after acquiring an additional 21,003 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Quanta Services by 892.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the construction company’s stock valued at $262,000 after acquiring an additional 910 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Quanta Services by 48.3% in the second quarter. GAMMA Investing LLC now owns 1,876 shares of the construction company’s stock worth $477,000 after acquiring an additional 611 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its position in shares of Quanta Services by 32.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 415 shares of the construction company’s stock worth $105,000 after purchasing an additional 101 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Up 0.0 %

Shares of PWR opened at $344.55 on Monday. 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 52-week low of $187.16 and a 52-week high of $350.19. The company has a market cap of $50.86 billion, a PE ratio of 63.56 and a beta of 1.01. The business has a fifty day moving average of $315.72 and a 200 day moving average of $283.05.

Quanta Services (NYSE:PWR) last released 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. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. During the same period in the previous year, the company earned $2.08 EPS. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, sell-side analysts expect that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, January 2nd. Quanta Services’s dividend payout ratio is presently 6.64%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PWR shares. Jefferies Financial Group began coverage on Quanta Services in a research note on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price target for the company. Robert W. Baird raised 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. Wolfe Research initiated coverage on shares of Quanta Services in a research note on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price target on the stock. TD Cowen raised their price objective on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, Stifel Nicolaus increased their price target on Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

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.