Quanta Services, Inc. (NYSE:PWR) Shares Purchased by Signet Financial Management LLC

Signet Financial Management LLC raised its position in Quanta Services, Inc. (NYSE:PWR) by 0.2% during the 4th quarter, Holdings Channel reports. The firm owned 15,543 shares of the construction company’s stock after acquiring an additional 38 shares during the quarter. Signet Financial Management LLC’s holdings in Quanta Services were worth $4,912,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. State Street Corp raised its position in Quanta Services by 1.6% during the third quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock worth $1,713,956,000 after acquiring an additional 89,975 shares during the last quarter. Geode Capital Management LLC lifted its stake in Quanta Services by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company’s stock valued at $1,027,887,000 after buying an additional 46,357 shares in the last quarter. Electron Capital Partners LLC grew its holdings in Quanta Services by 395.1% during the 2nd quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after buying an additional 2,092,519 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Quanta Services by 17.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock worth $313,968,000 after buying an additional 186,306 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Quanta Services by 4.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company’s stock worth $316,055,000 after acquiring an additional 43,715 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on PWR shares. UBS Group lifted their price objective on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Northland Securities reissued an “outperform” rating and set a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Truist Financial lifted their price objective on Quanta Services from $358.00 to $399.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Daiwa America upgraded Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Finally, Stifel Nicolaus boosted their target price on shares of Quanta Services from $343.00 to $374.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. 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. According to MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and an average price target of $324.25.

Quanta Services Stock Up 0.3 %

Shares of NYSE:PWR traded up $0.90 during trading on Monday, hitting $314.38. The company’s stock had a trading volume of 798,117 shares, compared to its average volume of 901,794. The company has a market capitalization of $46.41 billion, a PE ratio of 58.00 and a beta of 1.06. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The stock’s 50-day moving average price is $328.26 and its two-hundred day moving average price is $294.21. Quanta Services, Inc. has a fifty-two week low of $187.27 and a fifty-two week high of $350.19.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data 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 company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period last year, the business earned $2.08 EPS. As a group, sell-side analysts expect that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, January 2nd will be given a dividend of $0.10 per share. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.13%. The ex-dividend date is Thursday, January 2nd. Quanta Services’s dividend payout ratio is currently 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.