Versant Capital Management Inc Raises Stock Position in Quanta Services, Inc. (NYSE:PWR)

Versant Capital Management Inc lifted its stake in Quanta Services, Inc. (NYSE:PWR) by 62.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 117 shares of the construction company’s stock after purchasing an additional 45 shares during the period. Versant Capital Management Inc’s holdings in Quanta Services were worth $37,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of PWR. Legacy Investment Solutions LLC purchased a new position in shares of Quanta Services during the 3rd quarter worth approximately $31,000. Prestige Wealth Management Group LLC purchased a new stake in Quanta Services in the third quarter worth $30,000. Valley Wealth Managers Inc. bought a new position in Quanta Services in the second quarter worth $33,000. Quest Partners LLC bought a new stake in shares of Quanta Services during the 2nd quarter valued at $35,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in shares of Quanta Services in the 3rd quarter worth about $41,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. TD Cowen boosted their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Robert W. Baird lifted their price objective on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. began coverage on Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 target price on the stock. Truist Financial lifted their price target on Quanta Services from $358.00 to $399.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Stifel Nicolaus raised their price objective on shares of Quanta Services from $343.00 to $374.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and a consensus price target of $324.25.

Quanta Services Stock Up 0.4 %

Quanta Services stock opened at $327.95 on Tuesday. Quanta Services, Inc. has a one year low of $187.27 and a one year high of $350.19. The stock has a fifty day moving average of $327.70 and a 200 day moving average of $293.01. 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 stock has a market cap of $48.41 billion, a PE ratio of 60.51 and a beta of 1.06.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.46 by $0.26. The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.08 EPS. As a group, sell-side analysts predict that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

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

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.