MML Investors Services LLC raised its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 8.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,086 shares of the construction company's stock after buying an additional 1,643 shares during the quarter. MML Investors Services LLC's holdings in Quanta Services were worth $6,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Legacy Investment Solutions LLC purchased a new stake in Quanta Services during the third quarter valued at $31,000. Valley Wealth Managers Inc. purchased a new position in Quanta Services during the 2nd quarter valued at $33,000. Quest Partners LLC bought a new position in Quanta Services in the 2nd quarter valued at $35,000. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Quanta Services during the second quarter worth $38,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in shares of Quanta Services during the third quarter valued at $41,000. Institutional investors own 90.49% of the company's stock.
Quanta Services Stock Performance
PWR stock traded up $1.52 during trading on Friday, hitting $337.62. 1,121,229 shares of the company traded hands, compared to its average volume of 898,372. 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 $49.84 billion, a PE ratio of 62.01 and a beta of 1.03. The stock's 50-day simple moving average is $322.08 and its 200 day simple moving average is $286.73. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19.
Quanta Services (NYSE:PWR - Get Free Report) last announced 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 net margin of 3.54% and a return on equity of 16.71%. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same period in the prior year, the firm posted $2.08 earnings per share. The firm's quarterly revenue was up 15.5% compared to the same quarter last year. On average, equities analysts expect that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.
Quanta Services Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This is a boost from Quanta Services's previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services's payout ratio is 6.64%.
Wall Street Analyst Weigh In
Several research analysts recently commented on the stock. Truist Financial raised their price target on shares of Quanta Services from $319.00 to $358.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Stifel Nicolaus raised their price objective on Quanta Services from $343.00 to $374.00 and gave the stock a "buy" rating in a report on Wednesday. TD Cowen upped their target price on Quanta Services from $280.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. Daiwa America upgraded Quanta Services to a "strong-buy" rating in a research note on Friday, December 6th. Finally, Robert W. Baird upped their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Quanta Services presently has a consensus rating of "Moderate Buy" and an average price target of $321.69.
Get Our Latest Stock Report on Quanta Services
Quanta Services Company Profile
(
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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