Quanta Services, Inc. (NYSE:PWR) Holdings Increased by Lazard Freres Gestion S.A.S.

Lazard Freres Gestion S.A.S. increased its stake in Quanta Services, Inc. (NYSE:PWR) by 19.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,390 shares of the construction company’s stock after acquiring an additional 390 shares during the period. Lazard Freres Gestion S.A.S.’s holdings in Quanta Services were worth $712,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. EntryPoint Capital LLC acquired a new position in shares of Quanta Services during the 1st quarter valued at $25,000. Cambridge Trust Co. acquired a new position in Quanta Services during the first quarter worth about $26,000. Valley Wealth Managers Inc. bought a new stake in Quanta Services in the second quarter worth about $33,000. Quest Partners LLC acquired a new stake in Quanta Services in the 2nd quarter valued at about $35,000. Finally, MidAtlantic Capital Management Inc. bought a new position in shares of Quanta Services during the 3rd quarter valued at about $41,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. TD Cowen boosted their target price on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. started coverage on Quanta Services in a research report on Monday, October 7th. They set a “neutral” rating and a $297.00 price objective for the company. Truist Financial lifted their target price 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 upped their target price on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Robert W. Baird lifted their price target on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $314.27.

Quanta Services Stock Up 0.1 %

Shares of NYSE PWR traded up $0.41 during mid-day trading on Tuesday, reaching $343.33. The company had a trading volume of 32,076 shares, compared to its average volume of 893,309. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. Quanta Services, Inc. has a twelve month low of $180.97 and a twelve month high of $346.16. The stock’s 50 day moving average is $309.24 and its 200-day moving average is $280.37. The stock has a market capitalization of $50.68 billion, a PE ratio of 63.28 and a beta of 1.01.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 EPS 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 company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the prior year, the business posted $2.08 EPS. Quanta Services’s quarterly revenue was up 15.5% on a year-over-year basis. As a group, equities analysts anticipate that Quanta Services, Inc. will post 7.88 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

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