Park Avenue Securities LLC Purchases 956 Shares of Quanta Services, Inc. (NYSE:PWR)

Park Avenue Securities LLC raised its holdings in Quanta Services, Inc. (NYSE:PWR) by 6.8% in the fourth quarter, Holdings Channel reports. The fund owned 15,028 shares of the construction company’s stock after acquiring an additional 956 shares during the period. Park Avenue Securities LLC’s holdings in Quanta Services were worth $4,750,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PWR. Electron Capital Partners LLC raised its holdings 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 worth $666,260,000 after acquiring an additional 2,092,519 shares during the period. Alkeon Capital Management LLC raised its stake in shares of Quanta Services by 62.5% in the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock valued at $193,798,000 after purchasing an additional 250,000 shares during the period. Public Sector Pension Investment Board lifted its holdings in shares of Quanta Services by 4,701.7% in the second quarter. Public Sector Pension Investment Board now owns 153,559 shares of the construction company’s stock valued at $39,018,000 after purchasing an additional 150,361 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Quanta Services by 29,655.3% during the third quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company’s stock worth $44,269,000 after buying an additional 147,980 shares during the period. Finally, Meitav Investment House Ltd. bought a new position in shares of Quanta Services during the third quarter worth about $27,430,000. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Performance

Shares of PWR stock opened at $335.92 on Friday. Quanta Services, Inc. has a 52 week low of $187.27 and a 52 week high of $350.19. The company has a market capitalization of $49.59 billion, a price-to-earnings ratio of 61.98 and a beta of 1.06. The company has a 50-day simple moving average of $329.23 and a 200 day simple moving average of $295.52. 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) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. The company had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.08 earnings per share. On average, sell-side analysts predict that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend was Thursday, January 2nd. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is presently 7.38%.

Analyst Ratings Changes

A number of equities analysts have weighed in on PWR shares. Northland Securities reaffirmed an “outperform” rating and set a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Stifel Nicolaus raised their target price on shares of Quanta Services from $343.00 to $374.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Truist Financial cut their price target on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research report on Thursday. Robert W. Baird lifted their target price on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Daiwa America raised Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $324.19.

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.