Quanta Services, Inc. (NYSE:PWR) Shares Sold by Northstar Advisory Group LLC

Northstar Advisory Group LLC decreased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 79.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 777 shares of the construction company’s stock after selling 2,975 shares during the period. Northstar Advisory Group LLC’s holdings in Quanta Services were worth $246,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PWR. Acadian Asset Management LLC purchased a new position in shares of Quanta Services in the 2nd quarter valued at approximately $1,031,000. Quest Partners LLC purchased a new position in Quanta Services in the 2nd quarter valued at $35,000. Wedbush Securities Inc. purchased a new position in Quanta Services during the 2nd quarter worth $258,000. LPL Financial LLC lifted its stake in shares of Quanta Services by 15.1% in the 2nd quarter. LPL Financial LLC now owns 154,176 shares of the construction company’s stock worth $39,174,000 after acquiring an additional 20,205 shares during the period. Finally, Meeder Advisory Services Inc. boosted its holdings in shares of Quanta Services by 57.8% in the second quarter. Meeder Advisory Services Inc. now owns 2,418 shares of the construction company’s stock valued at $614,000 after acquiring an additional 886 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 0.3 %

Shares of NYSE PWR traded up $0.90 during midday trading on Monday, reaching $314.38. 798,060 shares of the stock were exchanged, compared to its average volume of 901,794. 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 company has a market capitalization of $46.41 billion, a P/E ratio of 58.00 and a beta of 1.06. The stock has a 50 day moving average price of $328.26 and a 200-day moving average price of $294.21. Quanta Services, Inc. has a 52-week low of $187.27 and a 52-week high of $350.19.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.08 EPS. Equities research analysts expect that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal 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 paid a dividend of $0.10 per share. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.13%. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio is currently 7.38%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PWR shares. TD Cowen increased their target price on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Robert W. Baird boosted their target price on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Truist Financial raised their price objective on shares of Quanta Services from $358.00 to $399.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Finally, Daiwa Capital Markets began coverage on shares of Quanta Services in a research report on Friday, December 6th. They set an “outperform” rating and a $355.00 price target for the company. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and a consensus price target of $324.25.

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.