Quanta Services, Inc. (NYSE:PWR) Shares Purchased by Strong Tower Advisory Services

Strong Tower Advisory Services boosted its holdings in Quanta Services, Inc. (NYSE:PWR) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,019 shares of the construction company’s stock after buying an additional 99 shares during the period. Quanta Services accounts for approximately 1.7% of Strong Tower Advisory Services’ holdings, making the stock its 15th largest holding. Strong Tower Advisory Services’ holdings in Quanta Services were worth $6,643,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of PWR. Electron Capital Partners LLC increased its position in Quanta Services by 395.1% during the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock worth $666,260,000 after purchasing an additional 2,092,519 shares during the last quarter. Alkeon Capital Management LLC boosted its holdings in Quanta Services by 62.5% in the third quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock valued at $193,798,000 after acquiring an additional 250,000 shares during the last quarter. Public Sector Pension Investment Board increased its stake in Quanta Services by 4,701.7% during the second quarter. Public Sector Pension Investment Board now owns 153,559 shares of the construction company’s stock worth $39,018,000 after acquiring an additional 150,361 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Quanta Services by 29,655.3% in the 3rd quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company’s stock worth $44,269,000 after purchasing an additional 147,980 shares during the period. Finally, Meitav Investment House Ltd. purchased a new stake in shares of Quanta Services during the 3rd quarter worth about $27,430,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PWR. Robert W. Baird lifted their price target on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Northland Securities reaffirmed an “outperform” rating and set a $328.00 price target (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Citigroup raised their price objective on Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a research report on Monday, December 9th. TD Cowen increased their target price on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, Guggenheim initiated coverage on Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating on the stock. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued 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 price target of $324.19.

Quanta Services Stock Up 0.3 %

Shares of Quanta Services stock opened at $337.10 on Monday. The business has a 50-day moving average price of $329.35 and a 200 day moving average price of $296.78. Quanta Services, Inc. has a fifty-two week low of $187.27 and a fifty-two week high of $350.19. The firm has a market cap of $49.76 billion, a P/E ratio of 62.20 and a beta of 1.06. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58.

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

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. 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 0.12%. Quanta Services’s payout ratio is 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.