Hennion & Walsh Asset Management Inc. Grows Holdings in Quanta Services, Inc. (NYSE:PWR)

Hennion & Walsh Asset Management Inc. lifted its position in shares of Quanta Services, Inc. (NYSE:PWR) by 4.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,573 shares of the construction company’s stock after buying an additional 793 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Quanta Services were worth $5,554,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Prestige Wealth Management Group LLC purchased a new stake in Quanta Services in the 3rd quarter worth approximately $30,000. Legacy Investment Solutions LLC acquired a new stake in shares of Quanta Services during the third quarter worth $31,000. Quest Partners LLC acquired a new position in Quanta Services in the second quarter valued at $35,000. Versant Capital Management Inc lifted its position in Quanta Services by 62.5% during the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after buying an additional 45 shares during the period. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Quanta Services in the 3rd quarter worth about $41,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 2.9 %

Quanta Services stock opened at $329.31 on Thursday. The company has a market cap of $48.61 billion, a P/E ratio of 60.76 and a beta of 1.06. Quanta Services, Inc. has a 1 year low of $187.27 and a 1 year high of $350.19. The firm’s 50-day moving average is $328.93 and its 200-day moving average is $295.24. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23.

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

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date was Thursday, January 2nd. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is 7.38%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PWR shares. Daiwa Capital Markets assumed coverage on shares of Quanta Services in a research note on Friday, December 6th. They set an “outperform” rating and a $355.00 price objective for the company. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. assumed coverage on shares of Quanta Services in a research note on Monday, October 7th. They set a “neutral” rating and a $297.00 price objective for the company. UBS Group lifted their target price on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Wolfe Research started coverage on Quanta Services in a research note on Thursday, September 19th. They set an “outperform” rating and a $313.00 price target for the company. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and a consensus price target of $324.25.

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.