Quanta Services, Inc. (NYSE:PWR) is AMI Asset Management Corp’s 7th Largest Position

AMI Asset Management Corp decreased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 2.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 226,567 shares of the construction company’s stock after selling 5,203 shares during the quarter. Quanta Services comprises about 3.8% of AMI Asset Management Corp’s investment portfolio, making the stock its 7th biggest position. AMI Asset Management Corp owned about 0.15% of Quanta Services worth $71,607,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PWR. XTX Topco Ltd raised its stake in Quanta Services by 31.6% during 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 during the period. Benjamin F. Edwards & Company Inc. raised its position in shares of Quanta Services by 13.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,704 shares of the construction company’s stock worth $433,000 after buying an additional 200 shares during the period. Canada Pension Plan Investment Board boosted its holdings 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 acquiring an additional 30,899 shares during the last quarter. Bridges Investment Management Inc. purchased a new stake in Quanta Services during the second quarter valued at about $322,000. Finally, Pacer Advisors Inc. increased its stake in Quanta Services by 0.9% during the second quarter. Pacer Advisors Inc. now owns 11,378 shares of the construction company’s stock worth $2,891,000 after acquiring an additional 102 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. UBS Group boosted their target price on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. assumed coverage on shares of Quanta Services in a research note on Monday, October 7th. They set a “neutral” rating and a $297.00 price objective for the company. Guggenheim assumed coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating on the stock. TD Cowen increased their price target on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, Northland Securities reiterated an “outperform” rating and issued a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Four 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $324.19.

Quanta Services Stock Performance

PWR stock opened at $337.10 on Tuesday. Quanta Services, Inc. has a 1 year low of $187.27 and a 1 year high of $350.19. The stock has a market capitalization of $49.76 billion, a price-to-earnings ratio of 62.20 and a beta of 1.06. 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’s fifty day moving average is $329.50 and its two-hundred day moving average is $297.36.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating 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 firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. During the same period last year, the firm earned $2.08 EPS. The firm’s revenue was up 15.5% compared to the same quarter last year. On average, research analysts predict that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio (DPR) 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.