Brookstone Capital Management Buys 5,445 Shares of Quanta Services, Inc. (NYSE:PWR)

Brookstone Capital Management lifted its stake in Quanta Services, Inc. (NYSE:PWR) by 22.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 29,982 shares of the construction company’s stock after purchasing an additional 5,445 shares during the period. Brookstone Capital Management’s holdings in Quanta Services were worth $9,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Fiduciary Alliance LLC boosted its holdings in shares of Quanta Services by 26.6% in the fourth quarter. Fiduciary Alliance LLC now owns 26,870 shares of the construction company’s stock worth $8,492,000 after acquiring an additional 5,643 shares during the period. Czech National Bank boosted its holdings in shares of Quanta Services by 6.6% in the fourth quarter. Czech National Bank now owns 32,006 shares of the construction company’s stock worth $10,115,000 after acquiring an additional 1,994 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in shares of Quanta Services by 2.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 2,910 shares of the construction company’s stock worth $920,000 after acquiring an additional 72 shares during the period. ORG Wealth Partners LLC boosted its stake in Quanta Services by 71.9% during the fourth quarter. ORG Wealth Partners LLC now owns 550 shares of the construction company’s stock valued at $174,000 after buying an additional 230 shares during the period. Finally, Hilltop National Bank grew its position in Quanta Services by 4.0% during the fourth quarter. Hilltop National Bank now owns 6,472 shares of the construction company’s stock worth $2,045,000 after buying an additional 248 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on PWR shares. Daiwa America upgraded Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Truist Financial boosted their target price on Quanta Services from $358.00 to $399.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Wolfe Research started coverage on Quanta Services in a research report on Thursday, September 19th. They set an “outperform” rating and a $313.00 target price for the company. Robert W. Baird boosted their target price on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Stifel Nicolaus boosted their target price on Quanta Services from $343.00 to $374.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $324.25.

Quanta Services Trading Up 0.3 %

NYSE PWR opened at $314.38 on Tuesday. Quanta Services, Inc. has a 1-year low of $187.27 and a 1-year high of $350.19. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The stock has a 50-day moving average of $328.26 and a 200-day moving average of $294.21. The firm has a market cap of $46.41 billion, a PE ratio of 58.00 and a beta of 1.06.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the previous year, the company posted $2.08 EPS. Quanta Services’s revenue for the quarter was up 15.5% on a year-over-year basis. As a group, sell-side analysts forecast that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.10 per share. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.13%. Quanta Services’s dividend payout ratio is presently 7.38%.

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.