Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Fiduciary Trust Co

Fiduciary Trust Co boosted its stake in Quanta Services, Inc. (NYSE:PWR) by 4.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,784 shares of the construction company’s stock after acquiring an additional 353 shares during the period. Fiduciary Trust Co’s holdings in Quanta Services were worth $2,321,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PWR. Cambridge Trust Co. acquired a new stake in shares of Quanta Services in the 1st quarter valued at about $26,000. Valley Wealth Managers Inc. acquired a new stake in Quanta Services during the second quarter valued at approximately $33,000. Quest Partners LLC bought a new position in Quanta Services during the 2nd quarter worth approximately $35,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Quanta Services in the 3rd quarter worth approximately $41,000. Finally, Eastern Bank bought a new stake in shares of Quanta Services in the 3rd quarter valued at approximately $44,000. 90.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on PWR. Wolfe Research assumed coverage on shares of Quanta Services in a report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price objective for the company. Truist Financial upped their target price on shares of Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Robert W. Baird lifted their price target on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Citigroup increased their price objective on Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Finally, JPMorgan Chase & Co. started coverage on Quanta Services in a research note on Monday, October 7th. They set a “neutral” rating and a $297.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $314.27.

Quanta Services Stock Up 0.2 %

NYSE PWR opened at $344.52 on Friday. Quanta Services, Inc. has a 12 month low of $186.18 and a 12 month high of $350.19. The company has a market capitalization of $50.86 billion, a P/E ratio of 63.56 and a beta of 1.01. The company’s 50 day simple moving average is $314.64 and its 200 day simple moving average is $282.28. 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 (NYSE:PWR) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.46 by $0.26. The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.08 earnings per share. Equities research analysts expect that Quanta Services, Inc. will post 7.9 earnings per share 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. Investors of record on Thursday, January 2nd will be paid a $0.10 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio (DPR) is currently 7.38%.

Quanta Services Profile

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.