Keyes Stange & Wooten Wealth Management LLC Reduces Position in Quanta Services, Inc. (NYSE:PWR)

Keyes Stange & Wooten Wealth Management LLC reduced its stake in Quanta Services, Inc. (NYSE:PWR) by 2.4% during the 3rd quarter, Holdings Channel reports. The fund owned 1,519 shares of the construction company’s stock after selling 37 shares during the period. Keyes Stange & Wooten Wealth Management LLC’s holdings in Quanta Services were worth $453,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Electron Capital Partners LLC boosted its stake in shares of Quanta Services by 395.1% during the 2nd quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock worth $666,260,000 after purchasing an additional 2,092,519 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Quanta Services by 17.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock valued at $313,968,000 after buying an additional 186,306 shares during the period. Swedbank AB boosted its position in Quanta Services by 4.6% during the third quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock worth $286,248,000 after acquiring an additional 42,579 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Quanta Services by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 848,776 shares of the construction company’s stock valued at $253,063,000 after acquiring an additional 11,565 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Quanta Services by 1.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 605,782 shares of the construction company’s stock worth $180,614,000 after purchasing an additional 9,705 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

Shares of NYSE PWR opened at $341.90 on Friday. The business has a 50 day moving average price of $307.80 and a two-hundred day moving average price of $279.67. Quanta Services, Inc. has a fifty-two week low of $180.97 and a fifty-two week high of $343.70. The firm has a market cap of $50.47 billion, a PE ratio of 63.08 and a beta of 1.01. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58.

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 the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same period in the previous year, the company earned $2.08 earnings per share. Quanta Services’s quarterly revenue was up 15.5% on a year-over-year basis. Sell-side analysts expect that Quanta Services, Inc. will post 7.88 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, January 2nd. Quanta Services’s dividend payout ratio is 6.64%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. TD Cowen upped their target price on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. UBS Group increased their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Northland Securities restated an “outperform” rating and issued a $328.00 target price (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Stifel Nicolaus increased their price target on shares of Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, B. Riley boosted their price objective on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $314.27.

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.