Tidal Investments LLC Acquires 1,781 Shares of Quanta Services, Inc. (NYSE:PWR)

Tidal Investments LLC raised its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 10.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,779 shares of the construction company’s stock after purchasing an additional 1,781 shares during the period. Tidal Investments LLC’s holdings in Quanta Services were worth $5,597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Wilmington Savings Fund Society FSB bought a new stake in Quanta Services in the third quarter worth $1,058,000. Diamant Asset Management Inc. bought a new stake in shares of Quanta Services in the 3rd quarter worth about $206,000. Second Line Capital LLC purchased a new position in shares of Quanta Services during the 3rd quarter worth about $2,902,000. Neo Ivy Capital Management bought a new position in Quanta Services during the 3rd quarter valued at about $240,000. Finally, Brown Financial Advisors raised its position in Quanta Services by 6.9% in the 3rd quarter. Brown Financial Advisors now owns 3,451 shares of the construction company’s stock worth $1,029,000 after purchasing an additional 224 shares during the period. 90.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on PWR. Truist Financial upped their target price on Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. UBS Group increased their target price on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Daiwa Capital Markets assumed coverage on shares of Quanta Services in a research note on Friday, December 6th. They set an “outperform” rating and a $355.00 target price for the company. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Finally, Northland Securities restated an “outperform” rating and issued a $328.00 target price (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Four research 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $321.69.

Quanta Services Trading Up 0.5 %

Shares of NYSE PWR opened at $337.62 on Friday. Quanta Services, Inc. has a 1-year low of $187.27 and a 1-year high of $350.19. The business has a fifty day moving average price of $322.72 and a 200 day moving average price of $287.10. The stock has a market capitalization of $49.84 billion, a P/E ratio of 62.29 and a beta of 1.03. 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 released its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The company’s revenue was up 15.5% compared to the same quarter last year. During the same period last year, the business earned $2.08 EPS. Equities research analysts expect that Quanta Services, Inc. will post 7.9 EPS for the current fiscal 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 positive change from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio is currently 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.