Eventide Asset Management LLC Raises Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Eventide Asset Management LLC boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 0.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 125,966 shares of the construction company’s stock after purchasing an additional 59 shares during the quarter. Eventide Asset Management LLC owned approximately 0.09% of Quanta Services worth $37,557,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PWR. Janus Henderson Group PLC raised its holdings in shares of Quanta Services by 1.0% during the first quarter. Janus Henderson Group PLC now owns 21,065 shares of the construction company’s stock valued at $5,469,000 after acquiring an additional 201 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of Quanta Services by 23.8% during the first quarter. B. Riley Wealth Advisors Inc. now owns 5,344 shares of the construction company’s stock valued at $1,388,000 after acquiring an additional 1,027 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Quanta Services by 20.4% during the first quarter. Tidal Investments LLC now owns 12,072 shares of the construction company’s stock valued at $3,136,000 after acquiring an additional 2,044 shares during the last quarter. iA Global Asset Management Inc. raised its holdings in shares of Quanta Services by 37.9% during the first quarter. iA Global Asset Management Inc. now owns 2,165 shares of the construction company’s stock valued at $562,000 after acquiring an additional 595 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of Quanta Services by 115.0% during the first quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock valued at $10,203,000 after acquiring an additional 21,003 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Jefferies Financial Group assumed coverage on Quanta Services in a report on Wednesday, September 4th. They set a “hold” rating and a $256.00 target price for the company. Wolfe Research started coverage on Quanta Services in a report on Thursday, September 19th. They set an “outperform” rating and a $313.00 target price for the company. TD Cowen increased their price target on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Northland Securities reaffirmed an “outperform” rating and issued a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Finally, B. Riley increased their price target on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

Quanta Services Stock Down 0.8 %

NYSE:PWR opened at $343.94 on Friday. The stock’s fifty day moving average is $314.64 and its two-hundred day moving average is $282.28. Quanta Services, Inc. has a 52 week low of $180.97 and a 52 week high of $350.19. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $50.77 billion, a price-to-earnings ratio of 63.46 and a beta of 1.01.

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 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 period in the prior year, the business earned $2.08 EPS. The firm’s quarterly revenue was up 15.5% on a year-over-year basis. Research analysts anticipate that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, January 2nd. 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 dividend yield of 0.12%. Quanta Services’s payout ratio is currently 6.64%.

Quanta Services 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.