Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC lifted its position in Quanta Services, Inc. (NYSE:PWR) by 220.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,469 shares of the construction company’s stock after purchasing an additional 7,206 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Quanta Services were worth $3,309,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC increased its holdings in shares of Quanta Services by 85.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock valued at $1,502,000 after acquiring an additional 2,184 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Quanta Services by 5.6% in the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock valued at $61,932,000 after buying an additional 11,012 shares during the last quarter. Synovus Financial Corp boosted its stake in shares of Quanta Services by 34.0% during the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock worth $2,148,000 after buying an additional 1,830 shares during the period. Allstate Corp purchased a new position in shares of Quanta Services during the fourth quarter worth about $1,357,000. Finally, Hennion & Walsh Asset Management Inc. increased its position in Quanta Services by 4.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 17,573 shares of the construction company’s stock valued at $5,554,000 after acquiring an additional 793 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of PWR stock opened at $254.11 on Tuesday. The firm has a market capitalization of $37.68 billion, a price-to-earnings ratio of 42.14, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. The company has a 50 day moving average price of $262.67 and a 200 day moving average price of $301.26. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $365.88. 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 issued its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. The firm had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. Sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. Quanta Services’s dividend payout ratio (DPR) is 6.63%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PWR shares. BMO Capital Markets raised Quanta Services from a “market perform” rating to an “outperform” rating and dropped their target price for the company from $338.00 to $316.00 in a report on Tuesday, February 25th. JPMorgan Chase & Co. raised their target price on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. B. Riley reiterated a “neutral” rating and set a $300.00 target price (down previously from $343.00) on shares of Quanta Services in a research report on Wednesday, March 19th. Citigroup dropped their price objective on Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Finally, Bank of America initiated coverage on shares of Quanta Services in a report on Friday, January 24th. They issued a “buy” rating and a $407.00 price target for the company. Six research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $319.25.

Quanta Services 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.