Brooklyn Investment Group Buys 73 Shares of Quanta Services, Inc. (NYSE:PWR)

Brooklyn Investment Group grew its stake in Quanta Services, Inc. (NYSE:PWR) by 17.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 492 shares of the construction company’s stock after acquiring an additional 73 shares during the quarter. Brooklyn Investment Group’s holdings in Quanta Services were worth $155,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in Quanta Services in the third quarter valued at approximately $31,000. Prestige Wealth Management Group LLC bought a new stake in shares of Quanta Services in the 3rd quarter valued at $30,000. Versant Capital Management Inc raised its stake in Quanta Services by 62.5% during the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after buying an additional 45 shares during the period. MidAtlantic Capital Management Inc. acquired a new position in Quanta Services in the third quarter valued at about $41,000. Finally, Eastern Bank acquired a new position in shares of Quanta Services in the 3rd quarter valued at approximately $44,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Up 0.3 %

Shares of NYSE PWR opened at $337.10 on Friday. Quanta Services, Inc. has a 52 week low of $187.27 and a 52 week high of $350.19. The stock’s fifty day moving average is $329.35 and its 200 day moving average is $296.48. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a market capitalization of $49.76 billion, a P/E ratio of 62.20 and a beta of 1.06.

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

Quanta Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a dividend of $0.10 per share. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. The ex-dividend date was Thursday, January 2nd. Quanta Services’s dividend payout ratio is currently 7.38%.

Wall Street Analyst Weigh In

PWR has been the topic of several research reports. Northland Securities restated an “outperform” rating and issued a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Daiwa Capital Markets assumed coverage on Quanta Services in a research note on Friday, December 6th. They issued an “outperform” rating and a $355.00 price objective on the stock. Truist Financial decreased their target price on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday. Stifel Nicolaus raised their price target on Quanta Services from $343.00 to $374.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, Citigroup increased their price objective on shares of Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $324.19.

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.