HCR Wealth Advisors Acquires 425 Shares of Quanta Services, Inc. (NYSE:PWR)

HCR Wealth Advisors increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 7.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,108 shares of the construction company’s stock after purchasing an additional 425 shares during the quarter. HCR Wealth Advisors’ holdings in Quanta Services were worth $1,930,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of PWR. Versor Investments LP bought a new stake in shares of Quanta Services in the third quarter valued at about $406,000. Principal Financial Group Inc. lifted its stake in Quanta Services by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock valued at $61,932,000 after acquiring an additional 11,012 shares in the last quarter. Asio Capital LLC acquired a new position in Quanta Services during the 3rd quarter worth approximately $2,715,000. Waverton Investment Management Ltd grew its stake in shares of Quanta Services by 6.5% during the 3rd quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock worth $12,509,000 after acquiring an additional 2,557 shares in the last quarter. Finally, Synovus Financial Corp raised its holdings in shares of Quanta Services by 34.0% in the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after purchasing an additional 1,830 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Trading Up 2.9 %

Shares of PWR stock opened at $329.31 on Thursday. Quanta Services, Inc. has a 12-month low of $187.27 and a 12-month high of $350.19. The firm has a 50 day moving average price of $328.93 and a two-hundred day moving average price of $295.24. 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 company has a market capitalization of $48.61 billion, a PE ratio of 60.76 and a beta of 1.06.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.46 by $0.26. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.08 EPS. As a group, analysts predict 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 issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is currently 7.38%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Citigroup increased their target price on shares of Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a report on Monday, December 9th. JPMorgan Chase & Co. initiated coverage on Quanta Services in a report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price objective for the company. Northland Securities reiterated an “outperform” rating and set a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Wolfe Research began coverage on Quanta Services in a research note on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price target for the company. Finally, Robert W. Baird increased their price objective on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.