Patton Albertson Miller Group LLC Has $11.10 Million Stock Position in Quanta Services, Inc. (NYSE:PWR)

Patton Albertson Miller Group LLC lowered its stake in Quanta Services, Inc. (NYSE:PWR) by 6.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,240 shares of the construction company’s stock after selling 2,475 shares during the period. Quanta Services accounts for 1.5% of Patton Albertson Miller Group LLC’s holdings, making the stock its 11th largest holding. Patton Albertson Miller Group LLC’s holdings in Quanta Services were worth $11,103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in PWR. EntryPoint Capital LLC acquired a new position in shares of Quanta Services during the first quarter worth $25,000. Cambridge Trust Co. acquired a new position in Quanta Services in the first quarter valued at $26,000. Valley Wealth Managers Inc. acquired a new position in Quanta Services in the second quarter valued at $33,000. Quest Partners LLC acquired a new position in Quanta Services in the second quarter valued at $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in Quanta Services in the second quarter valued at $38,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on PWR shares. Truist Financial boosted their target price on shares of Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Northland Securities restated an “outperform” rating and issued a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. TD Cowen upped their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Wolfe Research initiated coverage on shares of Quanta Services in a report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price objective on the stock. Finally, UBS Group upped their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $314.27.

Quanta Services Trading Up 0.3 %

Shares of PWR stock opened at $342.99 on Tuesday. Quanta Services, Inc. has a 52-week low of $180.97 and a 52-week high of $344.45. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The company has a 50-day simple moving average of $309.24 and a two-hundred day simple moving average of $280.37. The company has a market capitalization of $50.63 billion, a price-to-earnings ratio of 63.28 and a beta of 1.01.

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. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same period in the prior year, the firm posted $2.08 EPS. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. Research analysts anticipate that Quanta Services, Inc. will post 7.88 EPS for the current fiscal year.

Quanta Services Increases Dividend

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

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.