Legacy Investment Solutions LLC Invests $31,000 in Quanta Services, Inc. (NYSE:PWR)

Legacy Investment Solutions LLC bought a new stake in Quanta Services, Inc. (NYSE:PWR) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 95 shares of the construction company’s stock, valued at approximately $31,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Versor Investments LP acquired a new position in shares of Quanta Services during the 3rd quarter worth approximately $406,000. Wealth Enhancement Advisory Services LLC increased its holdings in Quanta Services by 5.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock worth $9,366,000 after buying an additional 1,981 shares during the last quarter. Czech National Bank raised its position in Quanta Services by 8.9% during the second quarter. Czech National Bank now owns 27,827 shares of the construction company’s stock worth $7,071,000 after acquiring an additional 2,264 shares in the last quarter. Asio Capital LLC acquired a new stake in Quanta Services in the third quarter valued at $2,715,000. Finally, Waverton Investment Management Ltd grew its position in shares of Quanta Services by 6.5% in the 3rd quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock valued at $12,509,000 after acquiring an additional 2,557 shares during the period. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Down 0.7 %

NYSE PWR opened at $332.47 on Monday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The company has a market cap of $49.08 billion, a price-to-earnings ratio of 61.34 and a beta of 1.03. The company has a 50 day moving average of $319.67 and a 200-day moving average of $285.47. Quanta Services, Inc. has a 1-year low of $187.27 and a 1-year high of $350.19.

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. The firm had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.08 EPS. On average, equities research analysts expect that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PWR. Northland Securities reiterated an “outperform” rating and set a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Citigroup boosted their target price on Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Truist Financial raised their price target on Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. TD Cowen upped their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, Jefferies Financial Group assumed coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They set a “hold” rating and a $256.00 target price for the company. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $316.81.

Quanta Services 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.