Kovitz Investment Group Partners LLC Has $3.70 Million Holdings in Quanta Services, Inc. (NYSE:PWR)

Kovitz Investment Group Partners LLC increased its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 30.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,399 shares of the construction company's stock after buying an additional 2,891 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Quanta Services were worth $3,697,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Valley Wealth Managers Inc. purchased a new stake in shares of Quanta Services during the second quarter valued at $33,000. Quest Partners LLC acquired a new stake in Quanta Services in the 2nd quarter valued at $35,000. MidAtlantic Capital Management Inc. purchased a new position in Quanta Services in the 3rd quarter valued at $41,000. Eastern Bank purchased a new position in shares of Quanta Services during the 3rd quarter worth $44,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Quanta Services during the 2nd quarter worth about $38,000. Institutional investors own 90.49% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PWR. Citigroup boosted their target price on Quanta Services from $348.00 to $394.00 and gave the stock a "buy" rating in a research note on Monday. Wolfe Research assumed coverage on Quanta Services in a research report on Thursday, September 19th. They set an "outperform" rating and a $313.00 target price on the stock. Jefferies Financial Group assumed coverage on Quanta Services in a research report on Wednesday, September 4th. They issued a "hold" rating and a $256.00 target price for the company. Northland Securities reaffirmed an "outperform" rating and set a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Finally, Truist Financial lifted their price target on Quanta Services from $319.00 to $358.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $319.69.

Quanta Services Trading Down 3.2 %

PWR traded down $10.68 during mid-day trading on Monday, reaching $321.79. The stock had a trading volume of 1,032,367 shares, compared to its average volume of 895,433. Quanta Services, Inc. has a 52 week low of $187.27 and a 52 week 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. The stock has a market capitalization of $47.50 billion, a P/E ratio of 59.37 and a beta of 1.03. The firm's fifty day simple moving average is $319.67 and its two-hundred day simple moving average is $285.47.

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, beating the consensus estimate of $2.46 by $0.26. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 15.5% on a year-over-year basis. During the same quarter last year, the business posted $2.08 EPS. On average, equities analysts predict that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, January 2nd will be paid a $0.10 dividend. This is a boost from Quanta Services's previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. The ex-dividend date is Thursday, January 2nd. Quanta Services's payout ratio is 6.64%.

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.