Quanta Services, Inc. (NYSE:PWR) Position Increased by MML Investors Services LLC

MML Investors Services LLC boosted its stake in Quanta Services, Inc. (NYSE:PWR) by 8.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,086 shares of the construction company’s stock after buying an additional 1,643 shares during the period. MML Investors Services LLC’s holdings in Quanta Services were worth $6,585,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PWR. Sequoia Financial Advisors LLC boosted its position in shares of Quanta Services by 66.4% during the second quarter. Sequoia Financial Advisors LLC now owns 1,523 shares of the construction company’s stock worth $387,000 after buying an additional 608 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Quanta Services by 5.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock worth $9,366,000 after buying an additional 1,981 shares in the last quarter. ORG Partners LLC lifted its stake in shares of Quanta Services by 4,287.5% in the 2nd quarter. ORG Partners LLC now owns 351 shares of the construction company’s stock worth $87,000 after acquiring an additional 343 shares during the period. Blue Trust Inc. boosted its holdings in shares of Quanta Services by 26.1% in the second quarter. Blue Trust Inc. now owns 841 shares of the construction company’s stock valued at $219,000 after acquiring an additional 174 shares in the last quarter. Finally, Brookstone Capital Management raised its holdings in Quanta Services by 43.6% during the second quarter. Brookstone Capital Management now owns 18,197 shares of the construction company’s stock worth $4,457,000 after purchasing an additional 5,525 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PWR. Daiwa America upgraded Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Daiwa Capital Markets assumed coverage on shares of Quanta Services in a research note on Friday, December 6th. They issued an “outperform” rating and a $355.00 price objective on the stock. Jefferies Financial Group began coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They set a “hold” rating and a $256.00 target price for the company. Citigroup raised their price objective on Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Northland Securities reaffirmed an “outperform” rating and set a $328.00 target price (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and a consensus target price of $321.69.

Quanta Services Stock Up 0.6 %

Shares of PWR stock opened at $336.10 on Friday. The stock’s 50 day simple moving average is $322.08 and its 200 day simple moving average is $286.73. Quanta Services, Inc. has a twelve month low of $187.27 and a twelve month high of $350.19. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The company has a market capitalization of $49.61 billion, a price-to-earnings ratio of 62.01 and a beta of 1.03.

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

Quanta Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio (DPR) is 7.38%.

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.