Patton Albertson Miller Group LLC Cuts Position in Quanta Services, Inc. (NYSE:PWR)

Patton Albertson Miller Group LLC trimmed its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 1.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 36,744 shares of the construction company’s stock after selling 496 shares during the period. Quanta Services makes up approximately 1.6% of Patton Albertson Miller Group LLC’s holdings, making the stock its 11th largest position. Patton Albertson Miller Group LLC’s holdings in Quanta Services were worth $11,613,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PWR. Stewardship Advisors LLC purchased a new stake in Quanta Services during the 4th quarter valued at about $210,000. Geneos Wealth Management Inc. lifted its stake in shares of Quanta Services by 0.7% in the fourth quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock worth $1,317,000 after buying an additional 29 shares in the last quarter. Carr Financial Group Corp grew its holdings in shares of Quanta Services by 17.4% during the fourth quarter. Carr Financial Group Corp now owns 1,293 shares of the construction company’s stock valued at $409,000 after buying an additional 192 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its position in shares of Quanta Services by 10.8% during the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 30,700 shares of the construction company’s stock valued at $9,703,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Zweig DiMenna Associates LLC raised its holdings in Quanta Services by 21.5% in the 4th quarter. Zweig DiMenna Associates LLC now owns 87,600 shares of the construction company’s stock worth $27,686,000 after acquiring an additional 15,494 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Robert W. Baird lifted their target price on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. JPMorgan Chase & Co. assumed coverage on Quanta Services in a report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price objective for the company. Truist Financial decreased their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Daiwa Capital Markets started coverage on shares of Quanta Services in a report on Friday, December 6th. They issued an “outperform” rating and a $355.00 price objective on the stock. Finally, Northland Securities reissued an “outperform” rating and set a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $329.88.

Quanta Services Stock Up 0.8 %

Shares of PWR opened at $357.55 on Friday. The business’s 50 day simple moving average is $332.01 and its 200-day simple moving average is $299.93. Quanta Services, Inc. has a 1 year low of $193.50 and a 1 year high of $365.88. The stock has a market capitalization of $52.78 billion, a price-to-earnings ratio of 65.97 and a beta of 1.06. 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 issued 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. 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 for the quarter was up 15.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.08 earnings per share. As a group, equities analysts expect that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a $0.10 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.11%. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio 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.