Brookstone Capital Management increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 22.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,982 shares of the construction company's stock after acquiring an additional 5,445 shares during the quarter. Brookstone Capital Management's holdings in Quanta Services were worth $9,476,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of PWR. Legacy Investment Solutions LLC purchased a new stake in shares of Quanta Services in the third quarter valued at approximately $31,000. Prestige Wealth Management Group LLC purchased a new stake in Quanta Services in the 3rd quarter valued at $30,000. Versant Capital Management Inc increased its stake in shares of Quanta Services by 62.5% in the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company's stock worth $37,000 after acquiring an additional 45 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Quanta Services during the 2nd quarter worth $35,000. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of Quanta Services during the 3rd quarter valued at about $41,000. Hedge funds and other institutional investors own 90.49% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have commented on PWR. UBS Group lifted their target price on shares of Quanta Services from $313.00 to $367.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Stifel Nicolaus lifted their price target on shares of Quanta Services from $343.00 to $374.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. Wolfe Research initiated coverage on Quanta Services in a research note on Thursday, September 19th. They set an "outperform" rating and a $313.00 target price for the company. Citigroup upped their price target on Quanta Services from $348.00 to $394.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Finally, Northland Securities reiterated an "outperform" rating and set a $328.00 price target (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. 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, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $324.25.
Check Out Our Latest Analysis on Quanta Services
Quanta Services Stock Performance
NYSE PWR traded up $4.99 during trading hours on Tuesday, hitting $319.22. The company had a trading volume of 1,087,789 shares, compared to its average volume of 925,046. The business has a 50 day moving average of $328.46 and a 200-day moving average of $294.54. The company has a market cap of $47.12 billion, a PE ratio of 58.90 and a beta of 1.06. Quanta Services, Inc. has a 1-year low of $187.27 and a 1-year high of $350.19. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23.
Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) 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 firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter last year, the business posted $2.08 EPS. The firm's quarterly revenue was up 15.5% compared to the same quarter last year. As a group, equities research analysts expect that Quanta Services, Inc. will post 7.9 EPS for the current year.
Quanta Services Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were paid a dividend of $0.10 per share. 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 0.13%. This is a boost from Quanta Services's previous quarterly dividend of $0.09. Quanta Services's dividend payout ratio is currently 7.38%.
About Quanta Services
(
Free Report)
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.
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