419 Shares in Quanta Services, Inc. (NYSE:PWR) Purchased by Brooklyn Investment Group

Brooklyn Investment Group acquired a new stake in shares of Quanta Services, Inc. (NYSE:PWR) during the third quarter, Holdings Channel reports. The firm acquired 419 shares of the construction company’s stock, valued at approximately $125,000.

Several other large investors also recently modified their holdings of PWR. EntryPoint Capital LLC bought a new stake in Quanta Services in the first quarter valued at $25,000. Lazard Asset Management LLC grew its holdings in shares of Quanta Services by 71,012.5% in the 1st quarter. Lazard Asset Management LLC now owns 5,689 shares of the construction company’s stock worth $1,478,000 after purchasing an additional 5,681 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Quanta Services by 1.0% during the 1st quarter. Janus Henderson Group PLC now owns 21,065 shares of the construction company’s stock worth $5,469,000 after purchasing an additional 201 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in Quanta Services by 23.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 5,344 shares of the construction company’s stock valued at $1,388,000 after purchasing an additional 1,027 shares during the last quarter. Finally, Tidal Investments LLC boosted its position in Quanta Services by 20.4% in the first quarter. Tidal Investments LLC now owns 12,072 shares of the construction company’s stock valued at $3,136,000 after buying an additional 2,044 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Performance

Shares of PWR stock opened at $343.83 on Thursday. The stock has a 50-day moving average of $312.12 and a 200-day moving average of $281.41. Quanta Services, Inc. has a one year low of $180.97 and a one year high of $350.19. The stock has a market cap of $50.75 billion, a PE ratio of 63.94 and a beta of 1.01. 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) last posted its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share 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 company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same period last year, the business posted $2.08 earnings per share. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, sell-side analysts expect 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 will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend is Thursday, January 2nd. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is 6.64%.

Wall Street Analyst Weigh In

A number of research firms have commented on PWR. Truist Financial boosted their price objective on Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Wolfe Research assumed coverage on shares of Quanta Services in a report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price objective on the stock. Citigroup boosted their target price on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Stifel Nicolaus raised their price target on shares of Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. initiated coverage on Quanta Services in a research report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $314.27.

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.