Carr Financial Group Corp Raises Holdings in Quanta Services, Inc. (NYSE:PWR)

Carr Financial Group Corp increased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 17.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,293 shares of the construction company’s stock after acquiring an additional 192 shares during the period. Carr Financial Group Corp’s holdings in Quanta Services were worth $409,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PWR. Legacy Investment Solutions LLC purchased a new stake in Quanta Services in the 3rd quarter valued at approximately $31,000. Prestige Wealth Management Group LLC acquired a new stake in shares of Quanta Services during the 3rd quarter valued at approximately $30,000. Sound Income Strategies LLC lifted its position in shares of Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after acquiring an additional 91 shares during the period. Versant Capital Management Inc raised its position in shares of Quanta Services by 62.5% during the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after purchasing an additional 45 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of Quanta Services during the 3rd quarter worth approximately $41,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on PWR shares. Citigroup lifted their target price on shares of Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Robert W. Baird lifted their target price on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. 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 note on Friday, November 1st. JPMorgan Chase & Co. initiated coverage on shares of Quanta Services in a research note on Monday, October 7th. They set a “neutral” rating and a $297.00 price objective for the company. Finally, Bank of America initiated coverage on shares of Quanta Services in a research note on Friday. They set a “buy” rating and a $407.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and a consensus target price of $329.88.

Quanta Services Stock Performance

Shares of PWR stock opened at $357.55 on Friday. Quanta Services, Inc. has a 12 month low of $193.50 and a 12 month high of $365.88. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The firm has a market capitalization of $52.78 billion, a P/E ratio of 65.97 and a beta of 1.06. The company’s fifty day moving average price is $332.01 and its two-hundred day moving average price is $299.62.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data 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 firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the previous year, the business posted $2.08 EPS. The firm’s revenue was up 15.5% compared to the same quarter last year. On average, research analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date was Thursday, January 2nd. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio is 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.