Avestar Capital LLC Increases Stock Position in Quanta Services, Inc. (NYSE:PWR)

Avestar Capital LLC grew its stake in Quanta Services, Inc. (NYSE:PWR) by 15.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,716 shares of the construction company’s stock after buying an additional 355 shares during the period. Avestar Capital LLC’s holdings in Quanta Services were worth $810,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Brooklyn Investment Group bought a new position in Quanta Services during the third quarter valued at approximately $125,000. Horizon Kinetics Asset Management LLC purchased a new position in shares of Quanta Services in the third quarter worth about $268,000. Diversified LLC lifted its stake in shares of Quanta Services by 13.4% in the 3rd quarter. Diversified LLC now owns 1,246 shares of the construction company’s stock valued at $371,000 after acquiring an additional 147 shares during the last quarter. DRW Securities LLC bought a new position in Quanta Services during the 3rd quarter worth approximately $481,000. Finally, Fisher Asset Management LLC purchased a new position in Quanta Services in the 3rd quarter worth approximately $211,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

PWR stock opened at $346.54 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The firm has a 50 day moving average price of $310.67 and a 200-day moving average price of $280.88. Quanta Services, Inc. has a 52-week low of $180.97 and a 52-week high of $350.19. The firm has a market capitalization of $51.15 billion, a price-to-earnings ratio of 63.94 and a beta of 1.01.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results 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. The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate 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. Equities research analysts forecast that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, January 2nd will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.12%. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, January 2nd. Quanta Services’s dividend payout ratio (DPR) is presently 6.64%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Citigroup increased their price objective on Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a research note on Friday, October 4th. UBS Group raised their price target 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. JPMorgan Chase & Co. started coverage on shares of Quanta Services in a research note on Monday, October 7th. They set a “neutral” rating and a $297.00 price objective for the company. Wolfe Research initiated coverage on Quanta Services in a report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price target on the stock. Finally, Truist Financial lifted their price objective on Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.