DB Fitzpatrick & Co Inc Reduces Stock Position in Quanta Services, Inc. (NYSE:PWR)

DB Fitzpatrick & Co Inc cut its position in Quanta Services, Inc. (NYSE:PWR) by 3.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 6,117 shares of the construction company’s stock after selling 193 shares during the period. Quanta Services makes up about 1.8% of DB Fitzpatrick & Co Inc’s investment portfolio, making the stock its 10th largest holding. DB Fitzpatrick & Co Inc’s holdings in Quanta Services were worth $1,933,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PWR. Prestige Wealth Management Group LLC purchased a new position in Quanta Services in the 3rd quarter worth approximately $30,000. Legacy Investment Solutions LLC purchased a new position in shares of Quanta Services in the third quarter worth $31,000. Quest Partners LLC purchased a new stake in shares of Quanta Services during the second quarter valued at $35,000. Versant Capital Management Inc increased its holdings in Quanta Services by 62.5% in 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 in the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new position in Quanta Services in the 3rd quarter worth about $41,000. Institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. JPMorgan Chase & Co. initiated coverage on shares of Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 price target for the company. Robert W. Baird boosted their target price on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Guggenheim began coverage on Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating on the stock. TD Cowen upped their price objective on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, Truist Financial dropped their target price on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research report on Thursday. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $324.19.

Quanta Services Stock Up 0.3 %

PWR opened at $337.10 on Friday. Quanta Services, Inc. has a fifty-two week low of $187.27 and a fifty-two week high of $350.19. 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 cap of $49.76 billion, a price-to-earnings ratio of 62.20 and a beta of 1.06. The firm’s fifty day moving average is $329.35 and its 200 day moving average is $296.14.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.08 earnings per share. On average, 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 business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. The ex-dividend date was Thursday, January 2nd. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is 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.