Benjamin Edwards Inc. Acquires Shares of 1,715 Quanta Services, Inc. (NYSE:PWR)

Benjamin Edwards Inc. purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,715 shares of the construction company's stock, valued at approximately $511,000.

Other hedge funds have also bought and sold shares of the company. Electron Capital Partners LLC grew its position in shares of Quanta Services by 395.1% during the 2nd quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company's stock valued at $666,260,000 after acquiring an additional 2,092,519 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Quanta Services by 17.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company's stock valued at $313,968,000 after purchasing an additional 186,306 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Quanta Services by 4.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company's stock valued at $316,055,000 after buying an additional 43,715 shares during the period. Swedbank AB lifted its position in shares of Quanta Services by 4.6% during the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company's stock valued at $286,248,000 after buying an additional 42,579 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Quanta Services by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 848,776 shares of the construction company's stock worth $253,063,000 after acquiring an additional 11,565 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Price Performance

NYSE PWR traded down $10.68 during trading hours on Monday, reaching $321.79. 1,032,367 shares of the stock traded hands, compared to its average volume of 895,433. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The stock has a 50 day simple moving average of $320.15 and a two-hundred day simple moving average of $285.79. Quanta Services, Inc. has a 1 year low of $187.27 and a 1 year high of $350.19. The company has a market cap of $47.50 billion, a price-to-earnings ratio of 59.37 and a beta of 1.03.

Quanta Services (NYSE:PWR - Get Free Report) last released its 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. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter in the previous year, the company posted $2.08 EPS. Quanta Services's quarterly revenue was up 15.5% compared to the same quarter last year. On average, analysts predict that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be paid a $0.10 dividend. 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 annualized dividend and a yield of 0.12%. Quanta Services's payout ratio is currently 6.64%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PWR shares. Wolfe Research assumed coverage on shares of Quanta Services in a report on Thursday, September 19th. They set an "outperform" rating and a $313.00 price objective on the stock. Robert W. Baird lifted their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Jefferies Financial Group assumed coverage on Quanta Services in a research report on Wednesday, September 4th. They set a "hold" rating and a $256.00 target price on the stock. TD Cowen boosted their price objective on Quanta Services from $280.00 to $335.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. Finally, Stifel Nicolaus raised their target price on Quanta Services from $283.00 to $342.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $319.69.

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.