Brookstone Capital Management Acquires 5,445 Shares of Quanta Services, Inc. (NYSE:PWR)

Brookstone Capital Management lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 22.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,982 shares of the construction company’s stock after purchasing an additional 5,445 shares during the period. Brookstone Capital Management’s holdings in Quanta Services were worth $9,476,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Prestige Wealth Management Group LLC bought a new position in Quanta Services in the third quarter worth approximately $30,000. Legacy Investment Solutions LLC bought a new position in Quanta Services in the third quarter worth approximately $31,000. Quest Partners LLC bought a new position in Quanta Services in the second quarter worth approximately $35,000. Versant Capital Management Inc boosted its holdings in Quanta Services by 62.5% in the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after acquiring an additional 45 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new position in Quanta Services in the third quarter worth approximately $41,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of PWR opened at $314.38 on Tuesday. 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 50 day moving average of $328.26 and a 200 day moving average of $294.21. Quanta Services, Inc. has a 12 month low of $187.27 and a 12 month high of $350.19. The company has a market capitalization of $46.41 billion, a price-to-earnings ratio of 58.00 and a beta of 1.06.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $6.56 billion. During the same period last year, the business posted $2.08 earnings per share. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. As a group, sell-side analysts forecast that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were given a $0.10 dividend. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date was Thursday, January 2nd. Quanta Services’s dividend payout ratio (DPR) is currently 7.38%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PWR. UBS Group increased their price target on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Daiwa America raised Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Guggenheim assumed coverage on Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating for the company. Daiwa Capital Markets assumed coverage on Quanta Services in a research note on Friday, December 6th. They issued an “outperform” rating and a $355.00 price objective for the company. Finally, Wolfe Research assumed coverage on Quanta Services in a research note on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price objective for the company. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $324.25.

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.