Charles Schwab Investment Management Inc. Increases Holdings in Quanta Services, Inc. (NYSE:PWR)

Charles Schwab Investment Management Inc. grew its holdings in Quanta Services, Inc. (NYSE:PWR) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 848,776 shares of the construction company’s stock after buying an additional 11,565 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.58% of Quanta Services worth $253,063,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. EntryPoint Capital LLC purchased a new stake in Quanta Services in the first quarter worth $25,000. Cambridge Trust Co. purchased a new stake in shares of Quanta Services in the 1st quarter worth about $26,000. Valley Wealth Managers Inc. bought a new stake in shares of Quanta Services during the 2nd quarter valued at about $33,000. Quest Partners LLC purchased a new position in shares of Quanta Services during the second quarter valued at about $35,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in Quanta Services in the third quarter worth about $41,000. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $341.90 on Friday. The firm’s 50-day moving average price is $307.80 and its 200-day moving average price is $279.67. Quanta Services, Inc. has a 52-week low of $180.97 and a 52-week high of $343.70. The company has a market cap of $50.47 billion, a PE ratio of 63.08 and a beta of 1.01. 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 announced its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $6.56 billion. During the same period last year, the firm posted $2.08 earnings per share. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. As a group, analysts anticipate that Quanta Services, Inc. will post 7.88 EPS for the current year.

Quanta Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.12%. The ex-dividend date is Thursday, January 2nd. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is currently 6.64%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Robert W. Baird increased their target price on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Truist Financial increased their price objective on Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. UBS Group boosted their target price on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. B. Riley increased their price target on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. assumed coverage on shares of Quanta Services in a research note on Monday, October 7th. They set a “neutral” rating and a $297.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.