Janney Montgomery Scott LLC Buys 1,645 Shares of Quanta Services, Inc. (NYSE:PWR)

Janney Montgomery Scott LLC increased its stake in Quanta Services, Inc. (NYSE:PWR) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 152,531 shares of the construction company’s stock after acquiring an additional 1,645 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Quanta Services were worth $48,208,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Quanta Services by 1.6% in the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock valued at $1,713,956,000 after purchasing an additional 89,975 shares during the last quarter. Geode Capital Management LLC boosted its position in Quanta Services by 1.4% during the third quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company’s stock valued at $1,027,887,000 after acquiring an additional 46,357 shares during the last quarter. 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 worth $666,260,000 after acquiring an additional 2,092,519 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Quanta Services by 4.3% in the 3rd 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 worth $316,055,000 after acquiring an additional 43,715 shares in the last quarter. Finally, Swedbank AB lifted its stake in shares of Quanta Services by 4.6% in the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after purchasing an additional 42,579 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PWR shares. Robert W. Baird lifted their target price on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Truist Financial dropped their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Citigroup raised their price target on shares of Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Guggenheim initiated coverage on shares of Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating on the stock. Finally, 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 target price for the company. Four equities 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $325.06.

Quanta Services Price Performance

PWR opened at $354.52 on Friday. Quanta Services, Inc. has a 1 year low of $192.62 and a 1 year high of $365.88. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The company has a market capitalization of $52.33 billion, a price-to-earnings ratio of 65.41 and a beta of 1.06. The firm’s fifty day moving average price is $330.71 and its two-hundred day moving average price is $298.51.

Quanta Services (NYSE:PWR) last released 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 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 analysts’ expectations of $6.56 billion. During the same period in the previous year, the company earned $2.08 earnings per share. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were issued a dividend of $0.10 per share. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date was Thursday, January 2nd. Quanta Services’s dividend payout ratio (DPR) is 7.38%.

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.