Tower Research Capital LLC TRC Grows Holdings in Quanta Services, Inc. (NYSE:PWR)

Tower Research Capital LLC TRC lifted its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 220.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 10,469 shares of the construction company's stock after acquiring an additional 7,206 shares during the quarter. Tower Research Capital LLC TRC's holdings in Quanta Services were worth $3,309,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PWR. Diamant Asset Management Inc. bought a new position in Quanta Services in the 3rd quarter worth about $206,000. Wilmington Savings Fund Society FSB purchased a new position in Quanta Services during the third quarter valued at approximately $1,058,000. Tidal Investments LLC increased its holdings in Quanta Services by 10.5% during the 3rd quarter. Tidal Investments LLC now owns 18,779 shares of the construction company's stock worth $5,597,000 after acquiring an additional 1,781 shares during the period. Synovus Financial Corp lifted its stake in Quanta Services by 34.0% in the 3rd quarter. Synovus Financial Corp now owns 7,206 shares of the construction company's stock worth $2,148,000 after purchasing an additional 1,830 shares in the last quarter. Finally, Old North State Trust LLC boosted its holdings in Quanta Services by 7.3% in the 3rd quarter. Old North State Trust LLC now owns 1,459 shares of the construction company's stock valued at $435,000 after purchasing an additional 99 shares during the period. Hedge funds and other institutional investors own 90.49% of the company's stock.

Analyst Ratings Changes

PWR has been the subject of several recent analyst reports. Daiwa America upgraded Quanta Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Truist Financial decreased their price objective on shares of Quanta Services from $398.00 to $324.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Bank of America started coverage on shares of Quanta Services in a research report on Friday, January 24th. They set a "buy" rating and a $407.00 target price for the company. B. Riley reissued a "neutral" rating and issued a $300.00 price target (down previously from $343.00) on shares of Quanta Services in a report on Wednesday, March 19th. Finally, Guggenheim began coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They issued a "neutral" rating for the company. Six equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $323.15.

Quanta Services Trading Up 3.0 %

PWR traded up $8.17 during midday trading on Thursday, reaching $282.48. 1,606,120 shares of the company's stock traded hands, compared to its average volume of 1,646,581. The stock has a market capitalization of $41.88 billion, a price-to-earnings ratio of 46.85, a P/E/G ratio of 1.41 and a beta of 1.04. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $365.88. The firm has a fifty day moving average of $261.83 and a two-hundred day moving average of $300.63. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping analysts' consensus estimates of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The company had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. On average, equities analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were issued a $0.10 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.14%. Quanta Services's dividend payout ratio (DPR) is presently 6.63%.

Quanta Services Company 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.