Empirical Asset Management LLC Purchases 18,183 Shares of Quanta Services, Inc. (NYSE:PWR)

Empirical Asset Management LLC raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 264.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,046 shares of the construction company's stock after acquiring an additional 18,183 shares during the quarter. Empirical Asset Management LLC's holdings in Quanta Services were worth $7,916,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Electron Capital Partners LLC raised its position in shares of Quanta Services by 395.1% during the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company's stock valued at $666,260,000 after buying an additional 2,092,519 shares during the last quarter. Alkeon Capital Management LLC grew its stake 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 acquiring an additional 250,000 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in Quanta Services by 4,701.7% in the 2nd quarter. Public Sector Pension Investment Board now owns 153,559 shares of the construction company's stock valued at $39,018,000 after acquiring an additional 150,361 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Quanta Services by 29,655.3% in the 3rd quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company's stock worth $44,269,000 after purchasing an additional 147,980 shares in the last quarter. Finally, Meitav Investment House Ltd. bought a new position in shares of Quanta Services during the 3rd quarter valued at about $27,430,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PWR has been the topic of a number of research analyst reports. Wolfe Research assumed coverage on Quanta Services in a research report on Thursday, September 19th. They issued an "outperform" rating and a $313.00 target price on the stock. Truist Financial reduced their price objective on Quanta Services from $399.00 to $398.00 and set a "buy" rating on the stock in a research note on Thursday. JPMorgan Chase & Co. assumed coverage on shares of Quanta Services in a report on Monday, October 7th. They issued a "neutral" rating and a $297.00 target price for the company. Northland Securities restated an "outperform" rating and issued a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Finally, Daiwa America raised shares of Quanta Services to a "strong-buy" rating in a research note on Friday, December 6th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $324.19.

Quanta Services Trading Up 0.3 %

PWR stock traded up $0.91 during midday trading on Friday, reaching $337.10. The company's stock had a trading volume of 1,358,031 shares, compared to its average volume of 1,060,575. Quanta Services, Inc. has a 1 year low of $187.27 and a 1 year high of $350.19. The firm has a market capitalization of $49.76 billion, a price-to-earnings ratio of 62.20 and a beta of 1.06. The stock has a fifty day simple moving average of $329.35 and a two-hundred day simple moving average of $296.14. 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 posted its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.46 by $0.26. The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm's revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.08 EPS. On average, equities research analysts predict that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were issued a $0.10 dividend. This is a positive change from Quanta Services's previous quarterly dividend of $0.09. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services's payout ratio is presently 7.38%.

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.