Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 3.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 8,618 shares of the construction company’s stock after purchasing an additional 304 shares during the period. Kingsview Wealth Management LLC’s holdings in Quanta Services were worth $2,569,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. EntryPoint Capital LLC acquired a new stake in Quanta Services during the 1st quarter valued at $25,000. Quadrature Capital Ltd acquired a new position in Quanta Services in the 1st quarter valued at about $1,128,000. LRI Investments LLC acquired a new stake in shares of Quanta Services during the 1st quarter worth about $80,000. Lazard Asset Management LLC grew its holdings in shares of Quanta Services by 71,012.5% during the first quarter. Lazard Asset Management LLC now owns 5,689 shares of the construction company’s stock worth $1,478,000 after buying an additional 5,681 shares in the last quarter. Finally, BOKF NA raised its position in shares of Quanta Services by 25.4% in the first quarter. BOKF NA now owns 3,505 shares of the construction company’s stock valued at $909,000 after buying an additional 709 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Trading Up 0.6 %

Shares of PWR opened at $341.92 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. Quanta Services, Inc. has a one year low of $180.97 and a one year high of $343.70. The stock has a 50-day moving average price of $309.24 and a 200 day moving average price of $280.37. The company has a market capitalization of $50.47 billion, a P/E ratio of 63.08 and a beta of 1.01.

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. 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 analyst estimates of $6.56 billion. During the same period last year, the business earned $2.08 EPS. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. Sell-side analysts forecast that Quanta Services, Inc. will post 7.88 EPS for the current fiscal year.

Quanta Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.10 per share. 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. The ex-dividend date of this dividend is Thursday, January 2nd. Quanta Services’s dividend payout ratio is presently 6.64%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wolfe Research began coverage on shares of Quanta Services in a research note on Thursday, September 19th. They issued an “outperform” rating and a $313.00 target price for the company. Citigroup increased their target price on Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Truist Financial lifted their price target on Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. TD Cowen raised their target price 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, UBS Group upped their price target on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $314.27.

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.