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

DB Fitzpatrick & Co Inc lessened its stake in Quanta Services, Inc. (NYSE:PWR) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 holdings, making the stock its 10th biggest holding. DB Fitzpatrick & Co Inc’s holdings in Quanta Services were worth $1,933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in PWR. Prestige Wealth Management Group LLC bought a new stake in Quanta Services in the 3rd quarter worth approximately $30,000. Legacy Investment Solutions LLC bought a new stake in shares of Quanta Services in the 3rd quarter worth approximately $31,000. Quest Partners LLC purchased a new stake in shares of Quanta Services in the 2nd quarter valued at $35,000. Versant Capital Management Inc raised its position 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 purchasing an additional 45 shares during the period. Finally, MidAtlantic Capital Management Inc. bought a new stake in Quanta Services in the third quarter worth $41,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 0.3 %

NYSE PWR opened at $337.10 on Friday. The stock’s 50 day moving average is $329.35 and its 200 day moving average is $296.14. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $49.76 billion, a PE ratio of 62.20 and a beta of 1.06. Quanta Services, Inc. has a twelve month low of $187.27 and a twelve month high of $350.19.

Quanta Services (NYSE:PWR) last released its earnings results 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. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same period in the prior year, the firm earned $2.08 EPS. The company’s revenue was up 15.5% compared to the same quarter last year. Research 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 declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a $0.10 dividend. This is a boost 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%. The ex-dividend date of this dividend was Thursday, January 2nd. Quanta Services’s payout ratio is currently 7.38%.

Analyst Ratings Changes

PWR has been the topic of a number of recent research reports. Daiwa America raised Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. started coverage on Quanta Services in a research report on Monday, October 7th. They set a “neutral” rating and a $297.00 price target on the stock. Citigroup boosted their price objective on Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Daiwa Capital Markets started coverage on shares of Quanta Services in a report on Friday, December 6th. They issued an “outperform” rating and a $355.00 target price on the stock. Finally, TD Cowen upped their price target on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $324.19.

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.