Lazard Freres Gestion S.A.S. Has $712,000 Stock Position in Quanta Services, Inc. (NYSE:PWR)

Lazard Freres Gestion S.A.S. raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 19.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,390 shares of the construction company’s stock after buying an additional 390 shares during the quarter. Lazard Freres Gestion S.A.S.’s holdings in Quanta Services were worth $712,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. EntryPoint Capital LLC acquired a new position in shares of Quanta Services during the first quarter valued at about $25,000. Cambridge Trust Co. bought a new position in shares of Quanta Services during the first quarter valued at $26,000. Valley Wealth Managers Inc. acquired a new stake in shares of Quanta Services during the second quarter worth approximately $33,000. Quest Partners LLC bought a new stake in shares of Quanta Services during the second quarter worth $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new position in shares of Quanta Services in the second quarter worth about $38,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Trading Up 0.1 %

NYSE PWR traded up $0.41 on Tuesday, reaching $343.33. The company had a trading volume of 32,076 shares, compared to its average volume of 893,309. The firm has a market cap of $50.68 billion, a price-to-earnings ratio of 63.28 and a beta of 1.01. Quanta Services, Inc. has a fifty-two week low of $180.97 and a fifty-two week high of $346.16. The business has a 50 day moving average of $309.24 and a two-hundred day moving average of $280.37. 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 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 net margin of 3.54% and a return on equity of 16.71%. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter in the prior year, the firm posted $2.08 earnings per share. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. Analysts forecast that Quanta Services, Inc. will post 7.88 EPS for the current year.

Quanta Services Increases Dividend

The firm also recently disclosed 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 is an increase from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 annualized dividend and a yield of 0.12%. Quanta Services’s dividend payout ratio is presently 7.38%.

Analysts Set New Price Targets

Several brokerages recently weighed in on PWR. Robert W. Baird increased their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a report on Friday, November 1st. JPMorgan Chase & Co. assumed coverage on Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 price target on the stock. Northland Securities restated an “outperform” rating and set a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Stifel Nicolaus raised their price target on Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, B. Riley lifted their price objective on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $314.27.

Quanta Services Company 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.