MAI Capital Management Buys 1,816 Shares of Quanta Services, Inc. (NYSE:PWR)

MAI Capital Management raised its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 34.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,160 shares of the construction company's stock after buying an additional 1,816 shares during the period. MAI Capital Management's holdings in Quanta Services were worth $2,135,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Versor Investments LP purchased a new stake in shares of Quanta Services during the 3rd quarter worth approximately $406,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Quanta Services by 5.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company's stock worth $9,366,000 after acquiring an additional 1,981 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of Quanta Services by 115.0% during the 1st quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company's stock worth $10,203,000 after acquiring an additional 21,003 shares during the last quarter. Czech National Bank lifted its holdings in shares of Quanta Services by 8.9% during the 2nd quarter. Czech National Bank now owns 27,827 shares of the construction company's stock worth $7,071,000 after acquiring an additional 2,264 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Quanta Services by 892.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the construction company's stock worth $262,000 after acquiring an additional 910 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on PWR. Jefferies Financial Group initiated coverage on shares of Quanta Services in a report on Wednesday, September 4th. They set a "hold" rating and a $256.00 price objective for the company. Northland Securities reiterated an "outperform" rating and issued a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. TD Cowen lifted their target price on shares of Quanta Services from $280.00 to $335.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. Robert W. Baird lifted their target price on shares of Quanta Services from $320.00 to $333.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Finally, Wolfe Research assumed coverage on shares of Quanta Services in a research report on Thursday, September 19th. They issued an "outperform" rating and a $313.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $314.27.

Quanta Services Trading Up 0.5 %

NYSE:PWR opened at $332.36 on Thursday. Quanta Services, Inc. has a one year low of $180.97 and a one year high of $335.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The company's 50-day simple moving average is $306.37 and its 200 day simple moving average is $279.24. The firm has a market capitalization of $49.06 billion, a P/E ratio of 61.32 and a beta of 1.01.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data 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 net margin of 3.54% and a return on equity of 16.71%. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the previous year, the firm posted $2.08 earnings per share. Quanta Services's quarterly revenue was up 15.5% on a year-over-year basis. As a group, analysts forecast that Quanta Services, Inc. will post 7.88 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were given a dividend of $0.09 per share. The ex-dividend date was Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.11%. Quanta Services's dividend payout ratio (DPR) is 6.64%.

About Quanta Services

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.