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

Janney Montgomery Scott LLC raised its stake in Quanta Services, Inc. (NYSE:PWRFree Report) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 152,531 shares of the construction company’s stock after purchasing an additional 1,645 shares during the period. Janney Montgomery Scott LLC owned 0.10% of Quanta Services worth $48,208,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Versor Investments LP bought a new position in Quanta Services in the 3rd quarter valued at about $406,000. Principal Financial Group Inc. increased its stake in shares of Quanta Services by 5.6% during the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after purchasing an additional 11,012 shares during the period. Asio Capital LLC acquired a new stake in Quanta Services during the 3rd quarter worth approximately $2,715,000. Waverton Investment Management Ltd boosted its stake in Quanta Services by 6.5% in the 3rd quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock valued at $12,509,000 after purchasing an additional 2,557 shares during the period. Finally, Synovus Financial Corp grew its holdings in Quanta Services by 34.0% in the 3rd quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after buying an additional 1,830 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PWR. Citigroup boosted their target price on shares of Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Stifel Nicolaus increased their target price on shares of Quanta Services from $374.00 to $388.00 and gave the stock a “buy” rating in a research report on Wednesday. Northland Securities reiterated an “outperform” rating and issued a $328.00 price target (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Daiwa Capital Markets began coverage on Quanta Services in a research report on Friday, December 6th. They set an “outperform” rating and a $355.00 price target on the stock. Finally, Daiwa America upgraded Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $325.06.

Check Out Our Latest Report on Quanta Services

Quanta Services Price Performance

Shares of NYSE:PWR opened at $354.52 on Friday. The firm has a 50 day simple moving average of $330.71 and a 200 day simple moving average of $298.51. The company has a market cap of $52.33 billion, a price-to-earnings ratio of 65.41 and a beta of 1.06. Quanta Services, Inc. has a one year low of $192.62 and a one 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.

Quanta Services (NYSE:PWRGet Free Report) last issued its quarterly earnings data 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. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. Quanta Services’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.08 EPS. Research analysts predict that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

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

About Quanta Services

(Free Report)

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.

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Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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