Fiduciary Trust Co Increases Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Fiduciary Trust Co increased its holdings in Quanta Services, Inc. (NYSE:PWR) by 4.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,784 shares of the construction company’s stock after buying an additional 353 shares during the period. Fiduciary Trust Co’s holdings in Quanta Services were worth $2,321,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in PWR. Cambridge Trust Co. acquired a new position in shares of Quanta Services in the first quarter worth $26,000. Valley Wealth Managers Inc. acquired a new position in Quanta Services in the 2nd quarter valued at about $33,000. Quest Partners LLC purchased a new position in Quanta Services in the 2nd quarter valued at about $35,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Quanta Services during the third quarter worth about $41,000. Finally, Eastern Bank purchased a new stake in shares of Quanta Services during the third quarter worth about $44,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PWR. UBS Group raised their target price on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus raised their price objective on Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. began coverage on Quanta Services in a research report on Monday, October 7th. They set a “neutral” rating and a $297.00 target price on the stock. Wolfe Research started coverage on Quanta Services in a report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price target for the company. Finally, Citigroup increased their price objective on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $314.27.

Quanta Services Price Performance

Shares of NYSE PWR opened at $344.52 on Friday. 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 $186.18 and a 1-year high of $350.19. The company has a market capitalization of $50.86 billion, a price-to-earnings ratio of 63.56 and a beta of 1.01. The business has a 50-day moving average of $314.64 and a 200-day moving average of $282.28.

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

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be given a $0.10 dividend. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date is Thursday, January 2nd. 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.