Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 38.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,631 shares of the construction company’s stock after acquiring an additional 456 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Quanta Services were worth $515,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of PWR. Versor Investments LP acquired a new stake in Quanta Services in the third quarter valued at approximately $406,000. Principal Financial Group Inc. increased its holdings in Quanta Services by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after acquiring an additional 11,012 shares in the last quarter. Asio Capital LLC acquired a new position in Quanta Services during the third quarter worth $2,715,000. Waverton Investment Management Ltd lifted its holdings in Quanta Services by 6.5% during the third quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock valued at $12,509,000 after purchasing an additional 2,557 shares in the last quarter. Finally, Synovus Financial Corp grew its position in shares of Quanta Services by 34.0% in the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after purchasing an additional 1,830 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Northland Securities restated an “outperform” rating and set a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. TD Cowen raised their target price on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Daiwa Capital Markets assumed coverage on Quanta Services in a research report on Friday, December 6th. They set an “outperform” rating and a $355.00 price target for the company. UBS Group raised their price objective on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Robert W. Baird upped their target price on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and a consensus target price of $324.19.

Quanta Services Trading Up 2.0 %

PWR opened at $335.92 on Friday. The stock has a market capitalization of $49.59 billion, a PE ratio of 61.98 and a beta of 1.06. Quanta Services, Inc. has a one year low of $187.27 and a one year high of $350.19. 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 business’s 50 day moving average price is $329.23 and its 200 day moving average price is $295.52.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.46 by $0.26. The business had revenue of $6.49 billion for 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 company’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.08 EPS. As a group, equities research analysts expect that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

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

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.