Everence Capital Management Inc. Buys 700 Shares of Quanta Services, Inc. (NYSE:PWR)

Everence Capital Management Inc. raised its stake in Quanta Services, Inc. (NYSE:PWR) by 52.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,040 shares of the construction company’s stock after acquiring an additional 700 shares during the period. Everence Capital Management Inc.’s holdings in Quanta Services were worth $645,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PWR. Resurgent Financial Advisors LLC raised its holdings in Quanta Services by 0.7% during the 3rd quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock valued at $1,423,000 after buying an additional 33 shares during the last quarter. Tower Wealth Partners Inc. increased its position in shares of Quanta Services by 3.1% in the third quarter. Tower Wealth Partners Inc. now owns 1,122 shares of the construction company’s stock valued at $335,000 after acquiring an additional 34 shares during the period. Huntington National Bank raised its stake in shares of Quanta Services by 2.9% during the third quarter. Huntington National Bank now owns 1,240 shares of the construction company’s stock valued at $370,000 after acquiring an additional 35 shares during the last quarter. Terra Nova Asset Management LLC boosted its holdings in shares of Quanta Services by 0.3% during the third quarter. Terra Nova Asset Management LLC now owns 12,779 shares of the construction company’s stock worth $3,810,000 after purchasing an additional 38 shares during the period. Finally, Greenleaf Trust grew its stake in shares of Quanta Services by 1.2% in the third quarter. Greenleaf Trust now owns 3,154 shares of the construction company’s stock worth $940,000 after purchasing an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

PWR has been the subject of several research analyst reports. Truist Financial increased their price objective on Quanta Services from $358.00 to $399.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Robert W. Baird lifted their price target on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Northland Securities restated an “outperform” rating and issued a $328.00 price objective (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. UBS Group lifted their target price on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Daiwa Capital Markets started coverage on shares of Quanta Services in a research note on Friday, December 6th. They issued an “outperform” rating and a $355.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $324.25.

Quanta Services Stock Up 3.5 %

Shares of NYSE:PWR opened at $326.52 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The stock has a fifty day simple moving average of $327.41 and a two-hundred day simple moving average of $292.55. Quanta Services, Inc. has a 12-month low of $187.27 and a 12-month high of $350.19. The stock has a market capitalization of $48.20 billion, a price-to-earnings ratio of 60.24 and a beta of 1.06.

Quanta Services (NYSE:PWR) last posted its quarterly 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 firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the previous year, the firm earned $2.08 EPS. Quanta Services’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, research analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, January 2nd will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio (DPR) is 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.