Hennion & Walsh Asset Management Inc. Purchases 793 Shares of Quanta Services, Inc. (NYSE:PWR)

Hennion & Walsh Asset Management Inc. boosted its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 4.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,573 shares of the construction company's stock after purchasing an additional 793 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in Quanta Services were worth $5,554,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Quest Partners LLC purchased a new stake in shares of Quanta Services during the second quarter valued at approximately $35,000. Oppenheimer Asset Management Inc. increased its position in shares of Quanta Services by 26.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,255 shares of the construction company's stock valued at $319,000 after purchasing an additional 262 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Quanta Services by 7.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 159,803 shares of the construction company's stock worth $40,604,000 after purchasing an additional 11,577 shares during the period. One Capital Management LLC purchased a new position in shares of Quanta Services in the 2nd quarter worth about $325,000. Finally, Virtu Financial LLC purchased a new stake in Quanta Services during the second quarter worth about $1,675,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Stifel Nicolaus boosted their target price on shares of Quanta Services from $343.00 to $374.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. began coverage on Quanta Services in a report on Monday, October 7th. They set a "neutral" rating and a $297.00 price objective for the company. Robert W. Baird upped their price target on Quanta Services from $320.00 to $333.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Daiwa Capital Markets started coverage on Quanta Services in a research note on Friday, December 6th. They issued an "outperform" rating and a $355.00 price objective on the stock. Finally, Northland Securities reiterated an "outperform" rating and set a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $324.19.

Quanta Services Price Performance

NYSE:PWR traded up $6.50 during trading hours on Thursday, hitting $335.92. The stock had a trading volume of 1,469,574 shares, compared to its average volume of 1,030,824. The firm has a market capitalization of $49.59 billion, a price-to-earnings ratio of 61.98 and a beta of 1.06. Quanta Services, Inc. has a one year low of $187.27 and a one year high of $350.19. The company has a 50 day simple moving average of $328.93 and a two-hundred day simple moving average of $295.24. 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 posted its 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. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $6.56 billion. During the same period in the previous year, the business earned $2.08 earnings per share. The firm's revenue was up 15.5% on a year-over-year basis. Research analysts forecast that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

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

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.