3,018 Shares in Quanta Services, Inc. (NYSE:PWR) Purchased by Prospera Financial Services Inc

Prospera Financial Services Inc bought a new position in Quanta Services, Inc. (NYSE:PWR) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 3,018 shares of the construction company’s stock, valued at approximately $900,000.

A number of other hedge funds have also bought and sold shares of PWR. EntryPoint Capital LLC purchased a new position in Quanta Services in the 1st quarter worth about $25,000. Cambridge Trust Co. purchased a new stake in shares of Quanta Services during the 1st quarter valued at about $26,000. Valley Wealth Managers Inc. purchased a new stake in shares of Quanta Services during the 2nd quarter valued at about $33,000. Quest Partners LLC purchased a new stake in shares of Quanta Services during the 2nd quarter valued at about $35,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new stake in Quanta Services during the second quarter valued at approximately $38,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

PWR has been the subject of a number of recent research reports. TD Cowen boosted their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Citigroup upped their target price on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Stifel Nicolaus raised their price target on Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a report on Thursday, October 10th. UBS Group raised their price target on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Robert W. Baird raised their price target on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

Quanta Services Stock Up 0.6 %

Shares of NYSE:PWR opened at $341.90 on Friday. Quanta Services, Inc. has a 1 year low of $180.97 and a 1 year high of $343.70. The business has a 50 day simple moving average of $307.80 and a two-hundred day simple moving average of $279.67. The firm has a market capitalization of $50.47 billion, a PE ratio of 62.85 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. The firm 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 quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.08 earnings per share. On average, equities analysts predict that Quanta Services, Inc. will post 7.88 EPS for the current 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 paid a $0.10 dividend. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. Quanta Services’s payout ratio is 6.64%.

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.