OFC Financial Planning LLC Takes Position in Quanta Services, Inc. (NYSE:PWR)

OFC Financial Planning LLC purchased a new position in Quanta Services, Inc. (NYSE:PWR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,405 shares of the construction company’s stock, valued at approximately $760,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SeaBridge Investment Advisors LLC bought a new position in shares of Quanta Services during the fourth quarter valued at approximately $1,754,000. Clear Creek Financial Management LLC grew its holdings in shares of Quanta Services by 231.3% in the fourth quarter. Clear Creek Financial Management LLC now owns 2,796 shares of the construction company’s stock worth $884,000 after purchasing an additional 1,952 shares during the last quarter. Caprock Group LLC bought a new stake in Quanta Services during the 4th quarter valued at about $12,457,000. New Wave Wealth Advisors LLC purchased a new stake in Quanta Services in the 4th quarter valued at about $47,000. Finally, Cibc World Market Inc. increased its position in shares of Quanta Services by 22.3% during the fourth quarter. Cibc World Market Inc. now owns 106,183 shares of the construction company’s stock worth $33,559,000 after acquiring an additional 19,396 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PWR has been the topic of several research reports. TD Cowen raised their price objective on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Citigroup lowered their target price on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research note on Wednesday. Bank of America initiated coverage on shares of Quanta Services in a research note on Friday, January 24th. They set a “buy” rating and a $407.00 price target on the stock. JPMorgan Chase & Co. boosted their target price on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Stifel Nicolaus lifted their price objective on shares of Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $330.06.

Quanta Services Stock Down 0.4 %

Shares of NYSE:PWR opened at $308.10 on Friday. The business has a 50-day moving average price of $328.59 and a 200 day moving average price of $301.01. Quanta Services, Inc. has a 12-month low of $193.52 and a 12-month high of $365.88. 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 capitalization of $45.48 billion, a price-to-earnings ratio of 56.85, a PEG ratio of 1.49 and a beta of 1.06.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. During the same period in the prior year, the firm earned $2.08 earnings per share. The firm’s revenue was up 15.5% compared to the same quarter last year. Sell-side analysts expect that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The firm 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 is a positive change from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.13%. Quanta Services’s dividend payout ratio (DPR) is presently 7.38%.

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.