Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Eventide Asset Management LLC

Eventide Asset Management LLC grew its position in Quanta Services, Inc. (NYSE:PWR) by 0.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 125,966 shares of the construction company’s stock after purchasing an additional 59 shares during the quarter. Eventide Asset Management LLC’s holdings in Quanta Services were worth $37,557,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cambridge Trust Co. acquired a new stake in shares of Quanta Services in the 1st quarter valued at $26,000. Valley Wealth Managers Inc. acquired a new stake in shares of Quanta Services in the 2nd quarter valued at $33,000. Quest Partners LLC acquired a new stake in shares of Quanta Services in the 2nd quarter valued at $35,000. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Quanta Services in the 2nd quarter valued at $38,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of Quanta Services in the 3rd quarter valued at $41,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Down 0.8 %

Shares of NYSE:PWR opened at $343.94 on Friday. 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, Inc. has a fifty-two week low of $180.97 and a fifty-two week high of $350.19. The firm’s 50-day simple moving average is $314.64 and its 200-day simple moving average is $282.28. The company has a market cap of $50.77 billion, a price-to-earnings ratio of 63.46 and a beta of 1.01.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter last year, the business earned $2.08 earnings per share. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities research analysts predict that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The business also recently disclosed 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. This is a boost 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 dividend yield of 0.12%. Quanta Services’s dividend payout ratio (DPR) is 6.64%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. 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 target on the stock. Truist Financial lifted 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. Stifel Nicolaus lifted their price target on shares of Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Citigroup lifted their price target on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Finally, B. Riley lifted 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. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.