Quanta Services, Inc. (NYSE:PWR) Shares Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management lifted its position in Quanta Services, Inc. (NYSE:PWR) by 10.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 4,608 shares of the construction company’s stock after acquiring an additional 440 shares during the quarter. Ritholtz Wealth Management’s holdings in Quanta Services were worth $1,456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in PWR. Oppenheimer Asset Management Inc. lifted its stake in shares of Quanta Services by 26.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,255 shares of the construction company’s stock valued at $319,000 after purchasing an additional 262 shares during the period. Axxcess Wealth Management LLC raised its position in Quanta Services by 98.3% during the second quarter. Axxcess Wealth Management LLC now owns 1,892 shares of the construction company’s stock worth $481,000 after acquiring an additional 938 shares during the period. Blair William & Co. IL raised its position in Quanta Services by 9.1% during the second quarter. Blair William & Co. IL now owns 25,202 shares of the construction company’s stock worth $6,403,000 after acquiring an additional 2,111 shares during the period. First Eagle Investment Management LLC raised its position in Quanta Services by 56.4% during the second quarter. First Eagle Investment Management LLC now owns 3,493 shares of the construction company’s stock worth $888,000 after acquiring an additional 1,260 shares during the period. Finally, XTX Topco Ltd raised its position 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 acquiring an additional 449 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Northland Securities restated an “outperform” rating and set a $328.00 price objective (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Daiwa Capital Markets started coverage on shares of Quanta Services in a research report on Friday, December 6th. They set an “outperform” rating and a $355.00 price objective for the company. JPMorgan Chase & Co. started coverage on shares of Quanta Services in a report on Monday, October 7th. They set a “neutral” rating and a $297.00 target price for the company. Stifel Nicolaus upped their target price on shares of Quanta Services from $343.00 to $374.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Robert W. Baird upped their target price on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Four investment 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 company’s stock. Based on data from MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $324.19.

Quanta Services Trading Up 0.3 %

Shares of PWR stock opened at $337.10 on Friday. 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 firm has a market cap of $49.76 billion, a PE ratio of 62.20 and a beta of 1.06. The company has a 50-day moving average of $329.35 and a two-hundred day moving average of $296.48. Quanta Services, Inc. has a 1-year low of $187.27 and a 1-year high of $350.19.

Quanta Services (NYSE:PWR) last announced its 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. The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. Quanta Services’s revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.08 earnings per share. On average, analysts predict that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. The ex-dividend date was Thursday, January 2nd. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. 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.