Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Empirical Asset Management LLC

Empirical Asset Management LLC boosted its holdings in Quanta Services, Inc. (NYSE:PWR) by 264.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 25,046 shares of the construction company’s stock after acquiring an additional 18,183 shares during the period. Empirical Asset Management LLC’s holdings in Quanta Services were worth $7,916,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Electron Capital Partners LLC lifted its holdings in shares of Quanta Services by 395.1% in the 2nd quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock worth $666,260,000 after purchasing an additional 2,092,519 shares during the last quarter. Alkeon Capital Management LLC increased its position in Quanta Services by 62.5% in the third quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock worth $193,798,000 after buying an additional 250,000 shares during the period. Public Sector Pension Investment Board lifted its stake in Quanta Services by 4,701.7% in the second quarter. Public Sector Pension Investment Board now owns 153,559 shares of the construction company’s stock valued at $39,018,000 after buying an additional 150,361 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Quanta Services by 29,655.3% during the third quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company’s stock valued at $44,269,000 after acquiring an additional 147,980 shares during the period. Finally, Meitav Investment House Ltd. bought a new position in shares of Quanta Services during the third quarter worth about $27,430,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on PWR. JPMorgan Chase & Co. initiated coverage on shares of Quanta Services in a research report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price objective on the stock. Robert W. Baird boosted their price objective on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Truist Financial cut their target price on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research note on Thursday. Stifel Nicolaus increased their price target on Quanta Services from $343.00 to $374.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, Daiwa Capital Markets assumed coverage on shares of Quanta Services in a report on Friday, December 6th. They issued an “outperform” rating and a $355.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and an average target price of $324.19.

Quanta Services Trading Up 2.0 %

Shares of PWR opened at $335.92 on Friday. The business’s 50-day moving average price is $329.23 and its 200 day moving average price is $295.52. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $49.59 billion, a P/E ratio of 61.98 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.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.46 by $0.26. The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period last year, the firm posted $2.08 earnings per share. 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 announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a $0.10 dividend. This represents a $0.40 annualized dividend 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 dividend payout ratio (DPR) is 7.38%.

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.