Norris Perne & French LLP MI Has $24.17 Million Position in Quanta Services, Inc. (NYSE:PWR)

Norris Perne & French LLP MI trimmed its holdings in Quanta Services, Inc. (NYSE:PWR) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 76,472 shares of the construction company’s stock after selling 651 shares during the period. Quanta Services comprises about 1.7% of Norris Perne & French LLP MI’s holdings, making the stock its 21st largest position. Norris Perne & French LLP MI owned approximately 0.05% of Quanta Services worth $24,169,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Webster Bank N. A. increased its holdings in Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Prestige Wealth Management Group LLC bought a new stake in Quanta Services during the third quarter worth $30,000. Legacy Investment Solutions LLC purchased a new stake in Quanta Services in the 3rd quarter valued at $31,000. Sound Income Strategies LLC boosted its holdings in Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after acquiring an additional 91 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Quanta Services by 62.5% in the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after acquiring an additional 45 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Trading Up 3.9 %

Shares of PWR stock opened at $309.52 on Friday. Quanta Services, Inc. has a 52-week low of $193.52 and a 52-week high of $365.88. The business’s fifty day moving average is $329.27 and its 200 day moving average is $300.65. 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 company has a market capitalization of $45.69 billion, a PE ratio of 57.11, a price-to-earnings-growth ratio of 1.49 and a beta of 1.06.

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

Quanta Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend was Thursday, January 2nd. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is currently 7.38%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Stifel Nicolaus boosted their price target on shares of Quanta Services from $374.00 to $388.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. TD Cowen boosted their target price on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Citigroup decreased their price target on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research report on Wednesday. Daiwa Capital Markets started coverage on Quanta Services in a research note on Friday, December 6th. They issued an “outperform” rating and a $355.00 price objective for the company. Finally, Robert W. Baird lifted their target price on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $330.06.

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.