Quanta Services, Inc. (NYSE:PWR) Shares Bought by Empirical Asset Management LLC

Empirical Asset Management LLC increased its stake in Quanta Services, Inc. (NYSE:PWR) by 264.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,046 shares of the construction company’s stock after acquiring an additional 18,183 shares during the period. Empirical Asset Management LLC’s holdings in Quanta Services were worth $7,916,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Prestige Wealth Management Group LLC purchased a new stake in shares of Quanta Services during the 3rd quarter valued at $30,000. Legacy Investment Solutions LLC acquired a new position in Quanta Services in the third quarter valued at $31,000. Quest Partners LLC purchased a new stake in Quanta Services during the second quarter valued at about $35,000. Versant Capital Management Inc increased its stake in Quanta Services by 62.5% during the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after acquiring an additional 45 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new position in shares of Quanta Services in the 3rd quarter worth about $41,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analysts Set New Price Targets

PWR has been the subject of a number of research reports. Citigroup boosted their target price on Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Guggenheim began coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They issued a “neutral” rating for the company. Northland Securities restated an “outperform” rating and set a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. TD Cowen upped their price target on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, Stifel Nicolaus raised their price objective on Quanta Services from $343.00 to $374.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $324.19.

Quanta Services Stock Up 2.0 %

Shares of NYSE:PWR opened at $335.92 on Friday. The firm has a market cap of $49.59 billion, a PE ratio of 61.98 and a beta of 1.06. The company has a fifty day simple moving average of $329.23 and a 200 day simple moving average of $295.52. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 12-month low of $187.27 and a 12-month high of $350.19.

Quanta Services (NYSE:PWR) last released its earnings results 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. 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 in the previous year, the firm earned $2.08 EPS. The company’s revenue was up 15.5% on a year-over-year basis. 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 company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a $0.10 dividend. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. 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.