Patton Albertson Miller Group LLC Sells 496 Shares of Quanta Services, Inc. (NYSE:PWR)

Patton Albertson Miller Group LLC decreased its holdings in Quanta Services, Inc. (NYSE:PWR) by 1.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 36,744 shares of the construction company’s stock after selling 496 shares during the quarter. Quanta Services makes up about 1.6% of Patton Albertson Miller Group LLC’s holdings, making the stock its 11th biggest holding. Patton Albertson Miller Group LLC’s holdings in Quanta Services were worth $11,613,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PWR. State Street Corp grew its stake in Quanta Services by 1.6% in the third quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock worth $1,713,956,000 after purchasing an additional 89,975 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Quanta Services by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company’s stock worth $1,027,887,000 after buying an additional 46,357 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Quanta Services by 4.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company’s stock valued at $316,055,000 after buying an additional 43,715 shares during the period. Swedbank AB raised its holdings in shares of Quanta Services by 4.6% in the third quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after acquiring an additional 42,579 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Quanta Services by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 848,776 shares of the construction company’s stock worth $253,063,000 after acquiring an additional 11,565 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Stifel Nicolaus boosted their price target on shares of Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. initiated coverage on Quanta Services in a report on Monday, October 7th. They set a “neutral” rating and a $297.00 target price for the company. Bank of America began coverage on Quanta Services in a report on Friday. They issued a “buy” rating and a $407.00 price target on the stock. UBS Group boosted their target price on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, TD Cowen raised their price target on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $329.88.

Quanta Services Trading Up 0.8 %

NYSE:PWR opened at $357.55 on Friday. 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 firm has a fifty day simple moving average of $332.01 and a 200-day simple moving average of $299.93. Quanta Services, Inc. has a 12 month low of $193.50 and a 12 month high of $365.88. The company has a market capitalization of $52.78 billion, a P/E ratio of 65.97 and a beta of 1.06.

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

Quanta Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.11%. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, January 2nd. Quanta Services’s payout ratio is presently 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.