International Assets Investment Management LLC lowered its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 99.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 770 shares of the construction company's stock after selling 147,709 shares during the period. International Assets Investment Management LLC's holdings in Quanta Services were worth $243,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of PWR. Legacy Investment Solutions LLC purchased a new position in Quanta Services in the third quarter valued at $31,000. Prestige Wealth Management Group LLC acquired a new stake in shares of Quanta Services during the 3rd quarter valued at about $30,000. Versant Capital Management Inc raised its holdings in 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 purchasing an additional 45 shares during the period. Quest Partners LLC purchased a new position in Quanta Services during the second quarter worth approximately $35,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Quanta Services in the third quarter valued at approximately $41,000. Institutional investors and hedge funds own 90.49% of the company's stock.
Quanta Services Trading Up 1.6 %
PWR stock traded up $4.99 during trading on Tuesday, reaching $319.22. 1,087,789 shares of the stock were exchanged, compared to its average volume of 925,046. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $47.12 billion, a price-to-earnings ratio of 58.90 and a beta of 1.06. The business has a 50 day moving average price of $328.46 and a 200-day moving average price of $294.54. Quanta Services, Inc. has a 1 year low of $187.27 and a 1 year high of $350.19.
Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 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 analyst estimates of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.08 EPS. On average, research analysts predict that Quanta Services, Inc. will post 7.9 earnings per share for the current year.
Quanta Services Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.13%. This is an increase from Quanta Services's previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, January 2nd. Quanta Services's dividend payout ratio (DPR) is presently 7.38%.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on PWR. TD Cowen upped their target price on Quanta Services from $280.00 to $335.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. Citigroup increased their price objective on shares of Quanta Services from $348.00 to $394.00 and gave the company a "buy" rating in a report on Monday, December 9th. UBS Group boosted 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 objective on Quanta Services from $343.00 to $374.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. Finally, Truist Financial increased their target price on Quanta Services from $358.00 to $399.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Quanta Services currently has an average rating of "Moderate Buy" and an average price target of $324.25.
Check Out Our Latest Stock Report on Quanta Services
Quanta Services 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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