Advisors Capital Management LLC Buys Shares of 1,005 Quanta Services, Inc. (NYSE:PWR)

Advisors Capital Management LLC purchased a new position in Quanta Services, Inc. (NYSE:PWR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,005 shares of the construction company’s stock, valued at approximately $318,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in Quanta Services during the fourth quarter valued at $544,937,000. Raymond James Financial Inc. bought a new stake in shares of Quanta Services during the 4th quarter valued at about $203,068,000. Proficio Capital Partners LLC acquired a new stake in Quanta Services during the fourth quarter worth about $53,949,000. Vanguard Group Inc. raised its stake in Quanta Services by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock worth $5,375,828,000 after acquiring an additional 161,277 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new position in Quanta Services in the fourth quarter valued at approximately $46,364,000. Institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on PWR. Stifel Nicolaus dropped their target price on Quanta Services from $323.00 to $287.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. B. Riley reaffirmed a “neutral” rating and issued a $300.00 price objective (down previously from $343.00) on shares of Quanta Services in a report on Wednesday, March 19th. BMO Capital Markets raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $338.00 to $316.00 in a research note on Tuesday, February 25th. Piper Sandler began coverage on shares of Quanta Services in a research note on Tuesday, April 8th. They issued an “overweight” rating and a $286.00 price target on the stock. Finally, Daiwa Capital Markets downgraded Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Six equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $319.25.

Quanta Services Trading Down 0.4 %

NYSE PWR opened at $273.08 on Wednesday. The stock has a market capitalization of $40.47 billion, a price-to-earnings ratio of 45.29, a PEG ratio of 1.41 and a beta of 1.04. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $365.88. The stock’s 50 day moving average price is $265.98 and its two-hundred day moving average price is $302.21. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. The business had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. As a group, analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.15%. Quanta Services’s dividend payout ratio is 6.63%.

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.