International Assets Investment Management LLC Has $243,000 Position in Quanta Services, Inc. (NYSE:PWR)

International Assets Investment Management LLC lowered its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 99.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 770 shares of the construction company’s stock after selling 147,709 shares during the period. International Assets Investment Management LLC’s holdings in Quanta Services were worth $243,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new stake in Quanta Services during the third quarter worth $31,000. Prestige Wealth Management Group LLC acquired a new stake in Quanta Services during the third quarter worth $30,000. Versant Capital Management Inc boosted its stake in Quanta Services by 62.5% during the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after buying an additional 45 shares in the last quarter. Quest Partners LLC acquired a new stake in Quanta Services during the second quarter worth $35,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Quanta Services during the third quarter worth $41,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. assumed coverage on Quanta Services in a report on Monday, October 7th. They set a “neutral” rating and a $297.00 price objective for the company. Daiwa America raised Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Truist Financial lifted their price objective on Quanta Services from $358.00 to $399.00 and gave the company a “buy” rating in a report on Thursday, December 19th. TD Cowen lifted their price objective on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, Wolfe Research began coverage on Quanta Services in a report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price objective for the company. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $324.25.

Quanta Services Price Performance

Shares of PWR stock opened at $314.38 on Tuesday. The stock has a 50-day moving average price of $328.26 and a 200 day moving average price of $294.21. 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 cap of $46.41 billion, a price-to-earnings ratio of 58.00 and a beta of 1.06. Quanta Services, Inc. has a 12 month low of $187.27 and a 12 month high of $350.19.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. The firm had revenue of $6.49 billion during 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%. The company’s revenue was up 15.5% on a year-over-year basis. During the same period last year, the company earned $2.08 earnings per share. Research analysts expect that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The business also recently announced 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 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%. The ex-dividend date of this dividend was Thursday, January 2nd. Quanta Services’s payout ratio is presently 7.38%.

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.