Quanta Services, Inc. (NYSE:PWR) Shares Purchased by Resurgent Financial Advisors LLC

Resurgent Financial Advisors LLC increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 0.7% in the third quarter, Holdings Channel reports. The firm owned 4,773 shares of the construction company’s stock after buying an additional 33 shares during the quarter. Resurgent Financial Advisors LLC’s holdings in Quanta Services were worth $1,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Electron Capital Partners LLC increased its holdings in shares of Quanta Services by 395.1% in the 2nd quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after purchasing an additional 2,092,519 shares during the period. American Century Companies Inc. increased its holdings in Quanta Services by 1,445.3% during the 2nd quarter. American Century Companies Inc. now owns 395,152 shares of the construction company’s stock valued at $100,404,000 after purchasing an additional 369,581 shares in the last quarter. Alkeon Capital Management LLC increased its stake in shares of Quanta Services by 62.5% in the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock valued at $193,798,000 after buying an additional 250,000 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Quanta Services by 17.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock worth $313,968,000 after purchasing an additional 186,306 shares during the last quarter. Finally, National Bank of Canada FI lifted its holdings in Quanta Services by 297.3% during the second quarter. National Bank of Canada FI now owns 215,914 shares of the construction company’s stock worth $53,455,000 after acquiring an additional 161,574 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PWR. Jefferies Financial Group began coverage on Quanta Services in a report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price objective for the company. Stifel Nicolaus raised their price target on shares of Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a report on Thursday, October 10th. TD Cowen boosted their price target on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Wolfe Research initiated coverage on shares of Quanta Services in a research note on Thursday, September 19th. They set an “outperform” rating and a $313.00 price objective on the stock. Finally, Northland Securities restated an “outperform” rating and set a $328.00 price objective (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Four 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, Quanta Services presently has an average rating of “Moderate Buy” and a consensus price target of $314.27.

Quanta Services Trading Down 1.8 %

Quanta Services stock opened at $333.64 on Thursday. Quanta Services, Inc. has a 52 week low of $187.16 and a 52 week high of $350.19. The company has a market capitalization of $49.25 billion, a price-to-earnings ratio of 61.56 and a beta of 1.03. The stock has a 50-day moving average price of $318.19 and a 200 day moving average price of $284.48. 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 posted its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. Quanta Services’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.08 EPS. Sell-side analysts anticipate that Quanta Services, Inc. will post 7.9 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. Investors of record on Thursday, January 2nd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, January 2nd. Quanta Services’s dividend payout ratio is 6.64%.

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.