Empirical Financial Services LLC d.b.a. Empirical Wealth Management Boosts Stock Position in Quanta Services, Inc. (NYSE:PWR)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of Quanta Services, Inc. (NYSE:PWR) by 21.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 905 shares of the construction company’s stock after acquiring an additional 161 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Quanta Services were worth $286,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Prestige Wealth Management Group LLC purchased a new stake in Quanta Services during the 3rd quarter worth about $30,000. Legacy Investment Solutions LLC purchased a new stake in Quanta Services during the third quarter worth approximately $31,000. Sound Income Strategies LLC boosted its holdings in Quanta Services by 700.0% in the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after purchasing an additional 91 shares in the last quarter. Versant Capital Management Inc increased its stake in Quanta Services by 62.5% in the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock valued at $37,000 after purchasing an additional 45 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Quanta Services during the third quarter worth approximately $41,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Price Performance

Quanta Services stock opened at $309.52 on Friday. The company has a market cap of $45.69 billion, a P/E ratio of 57.11 and a beta of 1.06. Quanta Services, Inc. has a one year low of $193.52 and a one year high of $365.88. The business has a fifty day moving average of $329.27 and a two-hundred day moving average of $300.65. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23.

Quanta Services (NYSE:PWR) last released its quarterly 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. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.08 EPS. As a group, 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 disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.13%. Quanta Services’s payout ratio is currently 7.38%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PWR shares. Stifel Nicolaus upped their target price on shares of Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. upped their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research note on Tuesday. Daiwa America upgraded Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Citigroup decreased their target price on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Daiwa Capital Markets initiated 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. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $330.06.

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.