Quanta Services, Inc. (NYSE:PWR) Holdings Raised by Reliant Investment Management LLC

Reliant Investment Management LLC grew its stake in Quanta Services, Inc. (NYSE:PWR) by 0.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 27,346 shares of the construction company’s stock after acquiring an additional 205 shares during the period. Quanta Services accounts for about 3.8% of Reliant Investment Management LLC’s investment portfolio, making the stock its 4th biggest position. Reliant Investment Management LLC’s holdings in Quanta Services were worth $8,643,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PWR. Prestige Wealth Management Group LLC purchased a new stake in Quanta Services during the 3rd quarter worth approximately $30,000. Legacy Investment Solutions LLC purchased a new stake in Quanta Services during the 3rd quarter worth approximately $31,000. Versant Capital Management Inc increased its stake 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 buying an additional 45 shares during the period. MidAtlantic Capital Management Inc. purchased a new stake in Quanta Services during the 3rd quarter worth approximately $41,000. Finally, Eastern Bank purchased a new stake in Quanta Services during the 3rd quarter worth approximately $44,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Northland Securities reiterated an “outperform” rating and set a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Citigroup boosted their price target on shares of Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Truist Financial lowered their price target on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, TD Cowen boosted their price target on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and an average price target of $324.19.

Quanta Services Stock Up 0.3 %

Shares of NYSE:PWR opened at $337.10 on Tuesday. The stock has a market cap of $49.76 billion, a P/E ratio of 62.20 and a beta of 1.06. The firm has a fifty day moving average price of $329.50 and a 200 day moving average price of $297.36. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. Quanta Services, Inc. has a 1-year low of $187.27 and a 1-year high of $350.19.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share 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 analysts’ expectations of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. Quanta Services’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.08 EPS. Sell-side analysts predict that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

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

Quanta Services 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.