Charles Schwab Investment Management Inc. Raises Stock Position in Quanta Services, Inc. (NYSE:PWR)

Charles Schwab Investment Management Inc. lifted its holdings in Quanta Services, Inc. (NYSE:PWR) by 1.4% in the third quarter, HoldingsChannel.com reports. The fund owned 848,776 shares of the construction company’s stock after buying an additional 11,565 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Quanta Services were worth $253,063,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PWR. EntryPoint Capital LLC bought a new stake in shares of Quanta Services during the first quarter valued at approximately $25,000. Quadrature Capital Ltd bought a new position in shares of Quanta Services during the 1st quarter valued at about $1,128,000. LRI Investments LLC purchased a new position in shares of Quanta Services during the first quarter valued at about $80,000. Lazard Asset Management LLC increased its holdings in shares of Quanta Services by 71,012.5% in the first quarter. Lazard Asset Management LLC now owns 5,689 shares of the construction company’s stock worth $1,478,000 after purchasing an additional 5,681 shares during the last quarter. Finally, BOKF NA lifted its position in shares of Quanta Services by 25.4% in the first quarter. BOKF NA now owns 3,505 shares of the construction company’s stock worth $909,000 after buying an additional 709 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Up 0.6 %

Shares of PWR opened at $341.90 on Friday. The firm has a market capitalization of $50.47 billion, a P/E ratio of 63.08 and a beta of 1.01. Quanta Services, Inc. has a 12-month low of $180.97 and a 12-month high of $343.70. The firm has a fifty day moving average price of $307.80 and a 200-day moving average price of $279.67. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $6.56 billion. During the same period in the prior year, the firm earned $2.08 EPS. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. Equities research analysts expect that Quanta Services, Inc. will post 7.88 earnings per share for the current year.

Quanta Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio (DPR) is currently 6.64%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PWR. Wolfe Research assumed coverage on Quanta Services in a report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price objective on the stock. JPMorgan Chase & Co. assumed coverage on shares of Quanta Services in a research report on Monday, October 7th. They set a “neutral” rating and a $297.00 price objective for the company. Robert W. Baird boosted their target price on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. TD Cowen increased their price target on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, B. Riley upped their price objective on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company 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.