706 Shares in Quanta Services, Inc. (NYSE:PWR) Purchased by Fisher Asset Management LLC

Fisher Asset Management LLC purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 706 shares of the construction company’s stock, valued at approximately $211,000.

Several other institutional investors and hedge funds have also bought and sold shares of PWR. Janus Henderson Group PLC lifted its stake in Quanta Services by 1.0% in the first quarter. Janus Henderson Group PLC now owns 21,065 shares of the construction company’s stock worth $5,469,000 after acquiring an additional 201 shares during the period. Cetera Investment Advisers boosted its stake in shares of Quanta Services by 115.0% during the 1st quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock valued at $10,203,000 after purchasing an additional 21,003 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Quanta Services by 892.2% during the first quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the construction company’s stock valued at $262,000 after buying an additional 910 shares during the period. GAMMA Investing LLC raised its stake in Quanta Services by 48.3% in the second quarter. GAMMA Investing LLC now owns 1,876 shares of the construction company’s stock worth $477,000 after buying an additional 611 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in Quanta Services by 32.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 415 shares of the construction company’s stock worth $105,000 after buying an additional 101 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of PWR opened at $344.52 on Monday. The business’s fifty day simple moving average is $315.72 and its two-hundred day simple moving average is $282.96. Quanta Services, Inc. has a 12 month low of $186.18 and a 12 month high of $350.19. The company has a market cap of $50.85 billion, a price-to-earnings ratio of 63.56 and a beta of 1.01. 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 (NYSE:PWR) last posted its 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 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 the consensus estimate of $6.56 billion. During the same quarter in the previous year, the firm posted $2.08 EPS. The firm’s revenue was up 15.5% on a year-over-year basis. Research analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Northland Securities reissued an “outperform” rating and issued a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Truist Financial increased their price objective on Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. UBS Group boosted their target price on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Stifel Nicolaus lifted their price target on shares of Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Citigroup upped their price objective 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. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $314.27.

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.