Princeton Global Asset Management LLC Grows Stake in Quanta Services, Inc. (NYSE:PWR)

Princeton Global Asset Management LLC raised its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 5.8% during the fourth quarter, HoldingsChannel reports. The firm owned 34,231 shares of the construction company’s stock after buying an additional 1,870 shares during the quarter. Quanta Services comprises 2.0% of Princeton Global Asset Management LLC’s holdings, making the stock its 11th largest position. Princeton Global Asset Management LLC’s holdings in Quanta Services were worth $10,819,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Quanta Services in the 2nd quarter worth about $634,000. Canandaigua National Bank & Trust Co. purchased a new position in shares of Quanta Services during the third quarter worth approximately $217,000. Czech National Bank raised its stake in shares of Quanta Services by 7.9% during the third quarter. Czech National Bank now owns 30,012 shares of the construction company’s stock valued at $8,948,000 after acquiring an additional 2,185 shares in the last quarter. GAMMA Investing LLC grew its stake in Quanta Services by 67.9% in the third quarter. GAMMA Investing LLC now owns 3,149 shares of the construction company’s stock worth $939,000 after purchasing an additional 1,273 shares in the last quarter. Finally, Diversified Trust Co lifted its stake in Quanta Services by 5.7% in the third quarter. Diversified Trust Co now owns 948 shares of the construction company’s stock worth $283,000 after acquiring an additional 51 shares during the period. 90.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. BMO Capital Markets initiated coverage on Quanta Services in a report on Monday. They set an “outperform” rating and a $338.00 target price for the company. Northland Securities reiterated an “outperform” rating and issued a $328.00 price target (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Truist Financial cut their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. JPMorgan Chase & Co. lifted their target price on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Finally, Guggenheim initiated coverage on shares of Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating for the company. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $330.50.

Quanta Services Price Performance

PWR stock opened at $308.10 on Monday. Quanta Services, Inc. has a 52-week low of $193.52 and a 52-week high of $365.88. The business has a fifty day moving average of $328.59 and a two-hundred day moving average of $301.69. The stock has a market cap of $45.48 billion, a price-to-earnings ratio of 56.85, a price-to-earnings-growth ratio of 1.54 and a beta of 1.05. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.26. The firm 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%. Quanta Services’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.08 EPS. As a group, research analysts anticipate 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. Stockholders of record on Thursday, January 2nd were paid a $0.10 dividend. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.13%. Quanta Services’s dividend payout ratio (DPR) is presently 7.38%.

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.