Northwest & Ethical Investments L.P. Lowers Holdings in Quanta Services, Inc. (NYSE:PWR)

Northwest & Ethical Investments L.P. lowered its position in Quanta Services, Inc. (NYSE:PWR) by 23.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,070 shares of the construction company’s stock after selling 330 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Quanta Services were worth $319,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Valley Wealth Managers Inc. purchased a new position in shares of Quanta Services during the second quarter worth about $33,000. Quest Partners LLC purchased a new position in Quanta Services in the 2nd quarter worth approximately $35,000. MidAtlantic Capital Management Inc. bought a new position in shares of Quanta Services in the 3rd quarter worth $41,000. Eastern Bank purchased a new stake in shares of Quanta Services during the 3rd quarter valued at $44,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Quanta Services during the 2nd quarter worth $38,000. Institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on PWR. Northland Securities restated an “outperform” rating and set a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Robert W. Baird boosted their target price on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Jefferies Financial Group began coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They set a “hold” rating and a $256.00 price target on the stock. Citigroup upped their price objective on shares of Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Finally, Truist Financial lifted their target price on shares of Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

Quanta Services Trading Up 0.2 %

Shares of PWR stock opened at $344.52 on Friday. 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 12-month low of $186.18 and a 12-month high of $350.19. The stock has a market capitalization of $50.86 billion, a P/E ratio of 63.56 and a beta of 1.01. The firm’s 50 day moving average is $315.72 and its 200 day moving average is $282.83.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.46 by $0.26. The company 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%. Quanta Services’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.08 earnings per share. Research analysts expect that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.10 per share. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services’s payout ratio is presently 7.38%.

About Quanta Services

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.