Quanta Services, Inc. (NYSE:PWR) Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. cut its stake in Quanta Services, Inc. (NYSE:PWR) by 1.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 64,531 shares of the construction company’s stock after selling 971 shares during the quarter. D.A. Davidson & CO.’s holdings in Quanta Services were worth $19,240,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Versor Investments LP acquired a new stake in Quanta Services during the third quarter worth about $406,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Quanta Services by 5.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock valued at $9,366,000 after buying an additional 1,981 shares during the period. Cetera Investment Advisers lifted its holdings in Quanta Services by 115.0% in the first quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock valued at $10,203,000 after acquiring an additional 21,003 shares during the last quarter. Czech National Bank grew its position in Quanta Services by 8.9% in the second quarter. Czech National Bank now owns 27,827 shares of the construction company’s stock worth $7,071,000 after acquiring an additional 2,264 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in Quanta Services by 892.2% during the first quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the construction company’s stock worth $262,000 after acquiring an additional 910 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Northland Securities reaffirmed an “outperform” rating and issued a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. JPMorgan Chase & Co. began coverage on shares of Quanta Services in a research note on Monday, October 7th. They set a “neutral” rating and a $297.00 target price for the company. B. Riley lifted their price target on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Citigroup upped their price objective on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Finally, UBS Group lifted their target price on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $314.27.

Quanta Services Trading Up 0.3 %

NYSE:PWR opened at $342.99 on Tuesday. Quanta Services, Inc. has a 12-month low of $180.97 and a 12-month high of $344.45. The firm has a market cap of $50.63 billion, a PE ratio of 63.28 and a beta of 1.01. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The stock has a fifty day moving average price of $309.24 and a 200 day moving average price of $280.37.

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, 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 business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter last year, the business posted $2.08 EPS. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. Sell-side analysts anticipate that Quanta Services, Inc. will post 7.88 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio is currently 7.38%.

About Quanta Services

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.