Quanta Services, Inc. (NYSE:PWR) Stake Lifted by Strong Tower Advisory Services

Strong Tower Advisory Services lifted its position in shares of Quanta Services, Inc. (NYSE:PWR) by 0.5% in the 4th quarter, Holdings Channel reports. The fund owned 21,019 shares of the construction company’s stock after buying an additional 99 shares during the period. Quanta Services comprises 1.7% of Strong Tower Advisory Services’ investment portfolio, making the stock its 15th biggest holding. Strong Tower Advisory Services’ holdings in Quanta Services were worth $6,643,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PWR. Prestige Wealth Management Group LLC bought a new stake in shares of Quanta Services during the third quarter valued at approximately $30,000. Legacy Investment Solutions LLC bought a new stake in Quanta Services during the 3rd quarter valued at $31,000. Versant Capital Management Inc boosted its position in Quanta Services by 62.5% during the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after acquiring an additional 45 shares during the period. MidAtlantic Capital Management Inc. bought a new position in shares of Quanta Services in the third quarter worth $41,000. Finally, Eastern Bank acquired a new position in shares of Quanta Services during the third quarter valued at $44,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $337.10 on Monday. Quanta Services, Inc. has a 12 month low of $187.27 and a 12 month high of $350.19. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The stock has a market cap of $49.76 billion, a PE ratio of 62.20 and a beta of 1.06. The business has a fifty day simple moving average of $329.35 and a 200-day simple moving average of $296.78.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period last year, the company posted $2.08 EPS. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a $0.10 dividend. The ex-dividend date of this dividend was 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 dividend yield of 0.12%. Quanta Services’s dividend payout ratio is 7.38%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PWR. Guggenheim started coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They issued a “neutral” rating for the company. Truist Financial lowered their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research note on Thursday. Daiwa Capital Markets started coverage on Quanta Services in a research report on Friday, December 6th. They issued an “outperform” rating and a $355.00 target price for the company. JPMorgan Chase & Co. assumed coverage on Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 price objective on the stock. Finally, UBS Group raised their target price on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and an average target price of $324.19.

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.