Cooper Financial Group Boosts Position in Quanta Services, Inc. (NYSE:PWR)

Cooper Financial Group raised its stake in Quanta Services, Inc. (NYSE:PWR) by 3.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,165 shares of the construction company’s stock after buying an additional 39 shares during the period. Cooper Financial Group’s holdings in Quanta Services were worth $368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Resurgent Financial Advisors LLC grew its stake in Quanta Services by 0.7% in the third quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock worth $1,423,000 after purchasing an additional 33 shares in the last quarter. Tower Wealth Partners Inc. lifted its holdings in shares of Quanta Services by 3.1% in the 3rd quarter. Tower Wealth Partners Inc. now owns 1,122 shares of the construction company’s stock worth $335,000 after buying an additional 34 shares during the period. Huntington National Bank grew its position in shares of Quanta Services by 2.9% during the 3rd quarter. Huntington National Bank now owns 1,240 shares of the construction company’s stock worth $370,000 after buying an additional 35 shares in the last quarter. Terra Nova Asset Management LLC raised its holdings in shares of Quanta Services by 0.3% in the third quarter. Terra Nova Asset Management LLC now owns 12,779 shares of the construction company’s stock valued at $3,810,000 after acquiring an additional 38 shares in the last quarter. Finally, Greenleaf Trust lifted its stake in Quanta Services by 1.2% in the third quarter. Greenleaf Trust now owns 3,154 shares of the construction company’s stock worth $940,000 after acquiring an additional 38 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PWR has been the topic of a number of research reports. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Wolfe Research assumed coverage on shares of Quanta Services in a research note on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price objective for the company. Citigroup increased their target price on Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Northland Securities reissued 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. Finally, Truist Financial raised their price objective on Quanta Services from $358.00 to $399.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Four 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $324.25.

Quanta Services Stock Up 1.6 %

NYSE:PWR opened at $319.22 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a twelve month low of $187.27 and a twelve month high of $350.19. The company has a market cap of $47.12 billion, a PE ratio of 58.90 and a beta of 1.06. The company’s 50 day moving average is $328.56 and its two-hundred day moving average is $295.00.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. The firm had revenue of $6.49 billion for 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%. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.08 earnings per share. Analysts anticipate that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.13%. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, January 2nd. Quanta Services’s dividend payout ratio (DPR) 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.