Daymark Wealth Partners LLC Has $3.95 Million Holdings in Quanta Services, Inc. (NYSE:PWR)

Daymark Wealth Partners LLC reduced its holdings in Quanta Services, Inc. (NYSE:PWR) by 0.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,503 shares of the construction company’s stock after selling 46 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Quanta Services were worth $3,952,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. XTX Topco Ltd lifted its position in shares of Quanta Services by 31.6% in the second quarter. XTX Topco Ltd now owns 1,872 shares of the construction company’s stock worth $476,000 after purchasing an additional 449 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in Quanta Services by 13.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,704 shares of the construction company’s stock worth $433,000 after acquiring an additional 200 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in Quanta Services by 242.1% in the second quarter. Canada Pension Plan Investment Board now owns 43,664 shares of the construction company’s stock valued at $11,095,000 after purchasing an additional 30,899 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Quanta Services by 0.9% during the 2nd quarter. Pacer Advisors Inc. now owns 11,378 shares of the construction company’s stock worth $2,891,000 after purchasing an additional 102 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Quanta Services by 323.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 8,258 shares of the construction company’s stock valued at $2,099,000 after buying an additional 6,306 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Price Performance

Quanta Services stock opened at $358.12 on Wednesday. The stock has a market cap of $52.86 billion, a P/E ratio of 66.07 and a beta of 1.06. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average price is $330.11 and its two-hundred day moving average price is $298.10. Quanta Services, Inc. has a 52 week low of $187.27 and a 52 week high of $358.72.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $6.56 billion. During the same quarter in the prior year, the company earned $2.08 EPS. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, equities analysts predict that Quanta Services, Inc. will post 7.9 earnings per share 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 issued a $0.10 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.11%. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio (DPR) is presently 7.38%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PWR. Robert W. Baird upped their price target on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Northland Securities reiterated an “outperform” rating and issued a $328.00 price target (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Guggenheim initiated coverage on Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating on the stock. Daiwa America raised Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. initiated coverage on Quanta Services in a report on Monday, October 7th. They set a “neutral” rating and a $297.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given 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.