Brophy Wealth Management LLC Invests $888,000 in Quanta Services, Inc. (NYSE:PWR)

Brophy Wealth Management LLC acquired a new stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,980 shares of the construction company's stock, valued at approximately $888,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Electron Capital Partners LLC increased its position in shares of Quanta Services by 395.1% in the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company's stock worth $666,260,000 after purchasing an additional 2,092,519 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Quanta Services by 1,445.3% during the 2nd quarter. American Century Companies Inc. now owns 395,152 shares of the construction company's stock worth $100,404,000 after acquiring an additional 369,581 shares during the last quarter. Alkeon Capital Management LLC raised its position in Quanta Services by 62.5% during the third quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company's stock valued at $193,798,000 after purchasing an additional 250,000 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake 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 worth $313,968,000 after purchasing an additional 186,306 shares during the last quarter. Finally, National Bank of Canada FI increased its position in shares of Quanta Services by 297.3% during the 2nd quarter. National Bank of Canada FI now owns 215,914 shares of the construction company's stock valued at $53,455,000 after purchasing an additional 161,574 shares during the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Stock Performance

Shares of Quanta Services stock traded down $1.71 during trading on Tuesday, hitting $320.27. 445,865 shares of the company's stock were exchanged, compared to its average volume of 893,490. The stock has a market capitalization of $47.28 billion, a price-to-earnings ratio of 58.94 and a beta of 1.03. Quanta Services, Inc. has a 52-week low of $187.27 and a 52-week high of $350.19. The business has a 50-day simple moving average of $320.15 and a 200-day simple moving average of $285.79. 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 announced its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating analysts' consensus estimates of $2.46 by $0.26. The company 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%. The firm's revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.08 EPS. On average, research analysts forecast that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The business also recently announced 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. This represents a $0.40 annualized dividend and a yield of 0.12%. 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. Quanta Services's dividend payout ratio (DPR) is 6.64%.

Analysts Set New Price Targets

PWR has been the subject of several research reports. Stifel Nicolaus upped their price objective on shares of Quanta Services from $283.00 to $342.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Daiwa Capital Markets began coverage on Quanta Services in a report on Friday. They issued an "outperform" rating and a $355.00 target price on the stock. Jefferies Financial Group started coverage on Quanta Services in a research note on Wednesday, September 4th. They issued a "hold" rating and a $256.00 price target for the company. Truist Financial boosted their target price on Quanta Services from $319.00 to $358.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Finally, UBS Group increased their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Quanta Services has an average rating of "Moderate Buy" and a consensus target price of $319.69.

Quanta Services 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.