Princeton Global Asset Management LLC Purchases 1,870 Shares of Quanta Services, Inc. (NYSE:PWR)

Princeton Global Asset Management LLC grew its position in shares of Quanta Services, Inc. (NYSE:PWR) by 5.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,231 shares of the construction company’s stock after purchasing an additional 1,870 shares during the period. Quanta Services comprises about 2.0% of Princeton Global Asset Management LLC’s holdings, making the stock its 11th largest holding. Princeton Global Asset Management LLC’s holdings in Quanta Services were worth $10,819,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Versor Investments LP purchased a new position in Quanta Services in the 3rd quarter worth approximately $406,000. Principal Financial Group Inc. lifted its position in shares of Quanta Services by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after purchasing an additional 11,012 shares during the period. Asio Capital LLC bought a new stake in shares of Quanta Services during the 3rd quarter valued at about $2,715,000. Synovus Financial Corp lifted its holdings in Quanta Services by 34.0% in the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock worth $2,148,000 after buying an additional 1,830 shares during the period. Finally, Waverton Investment Management Ltd lifted its stake 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 purchasing an additional 2,557 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PWR has been the topic of a number of recent research reports. Truist Financial cut their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. BMO Capital Markets initiated coverage on Quanta Services in a report on Monday. They issued an “outperform” rating and a $338.00 target price on the stock. Bank of America initiated coverage on Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price target for the company. Northland Securities reissued an “outperform” rating and set a $328.00 price objective (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Finally, UBS Group upped their target price on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and a consensus price target of $330.50.

Quanta Services Stock Down 0.4 %

PWR stock opened at $308.10 on Monday. The business’s 50-day moving average price is $328.59 and its 200-day moving average price is $301.69. The stock has a market cap of $45.48 billion, a P/E ratio of 56.85, a PEG ratio of 1.54 and a beta of 1.05. Quanta Services, Inc. has a twelve month low of $193.52 and a twelve month high of $365.88. 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 posted its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same period in the prior year, the business posted $2.08 earnings per share. The company’s revenue was up 15.5% on a year-over-year basis. On average, equities research analysts forecast that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were issued a $0.10 dividend. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend was Thursday, January 2nd. Quanta Services’s payout ratio is currently 7.38%.

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.