639 Shares in Quanta Services, Inc. (NYSE:PWR) Acquired by Ewa LLC

Ewa LLC bought a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 639 shares of the construction company’s stock, valued at approximately $207,000.

Several other institutional investors also recently modified their holdings of PWR. Legacy Investment Solutions LLC acquired a new position in shares of Quanta Services in the third quarter valued at approximately $31,000. Valley Wealth Managers Inc. bought a new position in shares of Quanta Services during the second quarter worth about $33,000. Quest Partners LLC acquired a new position in shares of Quanta Services in the second quarter worth approximately $35,000. MidAtlantic Capital Management Inc. bought a new stake in Quanta Services in the third quarter valued at approximately $41,000. Finally, Eastern Bank acquired a new stake in Quanta Services during the 3rd quarter valued at approximately $44,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $332.47 on Monday. Quanta Services, Inc. has a 1-year low of $187.27 and a 1-year high of $350.19. 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 stock has a market cap of $49.08 billion, a PE ratio of 61.34 and a beta of 1.03. The stock’s fifty day simple moving average is $319.67 and its two-hundred day simple moving average is $285.47.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $6.56 billion. During the same period in the previous year, the company earned $2.08 earnings per share. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, analysts forecast that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend is Thursday, January 2nd. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio (DPR) is 6.64%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PWR shares. Stifel Nicolaus boosted their price target on shares of Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Truist Financial upped their price target on shares of Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Wolfe Research started coverage on Quanta Services in a research report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price objective for the company. Daiwa Capital Markets started coverage on Quanta Services in a research report on Friday. They set an “outperform” rating and a $355.00 target price on the stock. Finally, JPMorgan Chase & Co. began coverage on Quanta Services in a report on Monday, October 7th. They issued a “neutral” rating and a $297.00 target price for the company. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and a consensus price target of $316.81.

About Quanta Services

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.