IHT Wealth Management LLC Increases Stock Position in Quanta Services, Inc. (NYSE:PWR)

IHT Wealth Management LLC grew its position in shares of Quanta Services, Inc. (NYSE:PWR) by 2.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,816 shares of the construction company’s stock after purchasing an additional 47 shares during the period. IHT Wealth Management LLC’s holdings in Quanta Services were worth $541,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Electron Capital Partners LLC grew its holdings in Quanta Services by 395.1% during the 2nd quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after buying an additional 2,092,519 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Quanta Services by 17.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock valued at $313,968,000 after acquiring an additional 186,306 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Quanta Services by 4.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company’s stock valued at $316,055,000 after purchasing an additional 43,715 shares in the last quarter. Swedbank AB increased its position in Quanta Services by 4.6% in the third quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock worth $286,248,000 after purchasing an additional 42,579 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Quanta Services by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 848,776 shares of the construction company’s stock valued at $253,063,000 after purchasing an additional 11,565 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Price Performance

Shares of PWR stock opened at $332.47 on Monday. The company’s 50-day simple moving average is $319.67 and its two-hundred day simple moving average is $285.47. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. Quanta Services, Inc. has a one year low of $187.27 and a one year high of $350.19. The company has a market capitalization of $49.08 billion, a P/E ratio of 61.34 and a beta of 1.03.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.26. The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. Quanta Services’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.08 earnings per share. As a group, equities analysts anticipate that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, January 2nd will be issued a $0.10 dividend. 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 of this dividend is Thursday, January 2nd. Quanta Services’s payout ratio is presently 6.64%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PWR. Citigroup lifted their price objective on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Wolfe Research began coverage on Quanta Services in a research note on Thursday, September 19th. They set an “outperform” rating and a $313.00 price objective on the stock. Jefferies Financial Group started coverage on Quanta Services in a research note on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price objective for the company. Daiwa Capital Markets assumed coverage on Quanta Services in a report on Friday. They issued an “outperform” rating and a $355.00 target price for the company. Finally, JPMorgan Chase & Co. began coverage on Quanta Services in a report on Monday, October 7th. They set a “neutral” rating and a $297.00 price target on the stock. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $316.81.

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.