Independent Advisor Alliance Sells 424 Shares of Quanta Services, Inc. (NYSE:PWR)

Independent Advisor Alliance lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 4.0% in the third quarter, Holdings Channel.com reports. The fund owned 10,209 shares of the construction company’s stock after selling 424 shares during the period. Independent Advisor Alliance’s holdings in Quanta Services were worth $3,044,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PWR. EntryPoint Capital LLC bought a new position in Quanta Services in the first quarter worth $25,000. Lazard Asset Management LLC raised its holdings in Quanta Services by 71,012.5% in the first 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 in the last quarter. BOKF NA raised its holdings in Quanta Services by 25.4% in the first quarter. BOKF NA now owns 3,505 shares of the construction company’s stock worth $909,000 after purchasing an additional 709 shares in the last quarter. SVB Wealth LLC raised its holdings in Quanta Services by 4.6% in the first quarter. SVB Wealth LLC now owns 1,445 shares of the construction company’s stock worth $375,000 after purchasing an additional 63 shares in the last quarter. Finally, Bayesian Capital Management LP raised its holdings in Quanta Services by 129.2% in the first quarter. Bayesian Capital Management LP now owns 5,244 shares of the construction company’s stock worth $1,362,000 after purchasing an additional 2,956 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 0.3 %

Quanta Services stock opened at $342.99 on Tuesday. 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, Inc. has a one year low of $180.97 and a one year high of $344.45. The stock has a market capitalization of $50.63 billion, a PE ratio of 63.28 and a beta of 1.01. The business’s fifty day moving average is $309.24 and its 200 day moving average is $280.37.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. During the same period last year, the firm posted $2.08 earnings per share. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, sell-side analysts predict that Quanta Services, Inc. will post 7.88 EPS for the current year.

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be paid 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 dividend payout ratio (DPR) is currently 7.38%.

Analyst Ratings Changes

A number of research firms have issued reports on PWR. B. Riley increased their price objective on Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. assumed coverage on Quanta Services in a report on Monday, October 7th. They set a “neutral” rating and a $297.00 price target for the company. Citigroup raised their price target on Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a report on Friday, October 4th. Northland Securities restated an “outperform” rating and set a $328.00 price target (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Finally, Stifel Nicolaus raised their price target on Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $314.27.

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.