Quanta Services, Inc. (NYSE:PWR) Shares Purchased by Synovus Financial Corp

Synovus Financial Corp raised its stake in Quanta Services, Inc. (NYSE:PWR) by 34.0% in the third quarter, HoldingsChannel.com reports. The fund owned 7,206 shares of the construction company’s stock after buying an additional 1,830 shares during the quarter. Synovus Financial Corp’s holdings in Quanta Services were worth $2,148,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Prestige Wealth Management Group LLC bought a new position in Quanta Services during the 3rd quarter worth $30,000. Legacy Investment Solutions LLC bought a new position in shares of Quanta Services during the third quarter worth about $31,000. Valley Wealth Managers Inc. acquired a new stake in shares of Quanta Services in the 2nd quarter worth about $33,000. Quest Partners LLC bought a new stake in Quanta Services in the 2nd quarter valued at about $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in Quanta Services during the 2nd quarter valued at about $38,000. 90.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PWR shares. Citigroup lifted their price target on Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a report on Monday, December 9th. Robert W. Baird lifted their target price on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. began coverage on Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 price target for the company. Stifel Nicolaus lifted their price objective on shares of Quanta Services from $343.00 to $374.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $321.69.

Quanta Services Trading Up 0.4 %

Shares of NYSE:PWR opened at $337.60 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a market capitalization of $49.83 billion, a price-to-earnings ratio of 62.29 and a beta of 1.03. Quanta Services, Inc. has a 1-year low of $187.27 and a 1-year high of $350.19. The company has a 50 day moving average price of $322.72 and a 200 day moving average price of $287.22.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.46 by $0.26. The business had revenue of $6.49 billion during 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 company’s revenue was up 15.5% compared to the same quarter last year. During the same period last year, the company posted $2.08 EPS. On average, research analysts anticipate that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. Quanta Services’s dividend payout ratio is currently 6.64%.

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.