Diversified LLC Increases Stock Position in Quanta Services, Inc. (NYSE:PWR)

Diversified LLC lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 13.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,246 shares of the construction company’s stock after acquiring an additional 147 shares during the quarter. Diversified LLC’s holdings in Quanta Services were worth $371,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of PWR. EntryPoint Capital LLC purchased a new stake in shares of Quanta Services during the 1st quarter valued at approximately $25,000. Quadrature Capital Ltd purchased a new stake in shares of Quanta Services during the 1st quarter valued at approximately $1,128,000. LRI Investments LLC purchased a new stake in shares of Quanta Services during the 1st quarter valued at approximately $80,000. Lazard Asset Management LLC lifted its stake in shares of Quanta Services by 71,012.5% during the 1st quarter. Lazard Asset Management LLC now owns 5,689 shares of the construction company’s stock valued at $1,478,000 after buying an additional 5,681 shares in the last quarter. Finally, BOKF NA lifted its stake in shares of Quanta Services by 25.4% during the 1st quarter. BOKF NA now owns 3,505 shares of the construction company’s stock valued at $909,000 after buying an additional 709 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Robert W. Baird raised their price target 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. Citigroup lifted their price objective on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, October 4th. JPMorgan Chase & Co. started coverage on shares of Quanta Services in a research report on Monday, October 7th. They issued a “neutral” rating and a $297.00 target price on the stock. Stifel Nicolaus lifted their target price on shares of Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Truist Financial boosted their price objective on shares of Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $314.27.

Quanta Services Trading Up 0.8 %

NYSE:PWR opened at $344.60 on Monday. Quanta Services, Inc. has a one year low of $180.97 and a one year high of $344.60. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The company’s 50-day simple moving average is $309.24 and its 200 day simple moving average is $280.37. The firm has a market capitalization of $50.87 billion, a P/E ratio of 63.58 and a beta of 1.01.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping 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 business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the previous year, the firm posted $2.08 earnings per share. Quanta Services’s quarterly revenue was up 15.5% on a year-over-year basis. As a group, analysts forecast that Quanta Services, Inc. will post 7.88 EPS for the current fiscal year.

Quanta Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. The ex-dividend date is Thursday, January 2nd. 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.