Quanta Services, Inc. (NYSE:PWR) Stake Raised by Raymond James Trust N.A.

Raymond James Trust N.A. grew its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 25.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,408 shares of the construction company’s stock after purchasing an additional 897 shares during the period. Raymond James Trust N.A.’s holdings in Quanta Services were worth $1,314,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in PWR. EntryPoint Capital LLC purchased a new position in Quanta Services in the 1st quarter worth about $25,000. Cambridge Trust Co. purchased a new stake in shares of Quanta Services in the 1st quarter valued at approximately $26,000. Valley Wealth Managers Inc. acquired a new position in Quanta Services in the 2nd quarter worth approximately $33,000. Quest Partners LLC purchased a new position in Quanta Services during the 2nd quarter worth approximately $35,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Quanta Services during the 3rd quarter valued at $41,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

NYSE PWR opened at $341.92 on Monday. The company’s fifty day moving average is $309.24 and its two-hundred day moving average is $280.37. The firm has a market capitalization of $50.47 billion, a price-to-earnings ratio of 63.08 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. Quanta Services, Inc. has a 52-week low of $180.97 and a 52-week high of $343.70.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS 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 analyst estimates of $6.56 billion. During the same period in the prior year, the company posted $2.08 earnings per share. Quanta Services’s revenue was up 15.5% on a year-over-year basis. Equities research analysts forecast that Quanta Services, Inc. will post 7.88 EPS for the current year.

Quanta Services Increases Dividend

The firm also recently announced 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 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%. The ex-dividend date is Thursday, January 2nd. Quanta Services’s payout ratio is 6.64%.

Analyst Ratings Changes

PWR has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on Quanta Services in a research note on Wednesday, September 4th. They set a “hold” rating and a $256.00 target price on the stock. Northland Securities restated an “outperform” rating and set a $328.00 price target (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Robert W. Baird upped their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. started coverage on shares of Quanta Services in a research note on Monday, October 7th. They set a “neutral” rating and a $297.00 target price for the company. Finally, Truist Financial upped their price target on shares of Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and an average price target 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.