Empirical Financial Services LLC d.b.a. Empirical Wealth Management Increases Position in Quanta Services, Inc. (NYSE:PWR)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in Quanta Services, Inc. (NYSE:PWR) by 21.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 905 shares of the construction company’s stock after acquiring an additional 161 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Quanta Services were worth $286,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Legacy Investment Solutions LLC acquired a new position in shares of Quanta Services in the 3rd quarter valued at $31,000. Prestige Wealth Management Group LLC acquired a new position in Quanta Services in the third quarter valued at $30,000. Sound Income Strategies LLC grew its position in Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after acquiring an additional 91 shares during the period. Versant Capital Management Inc increased its stake in Quanta Services by 62.5% during the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after acquiring an additional 45 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new position 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.

Quanta Services Price Performance

Shares of PWR stock opened at $309.52 on Friday. The firm has a fifty day moving average of $329.27 and a two-hundred day moving average of $300.65. The firm has a market cap of $45.69 billion, a P/E ratio of 57.11 and a beta of 1.06. Quanta Services, Inc. has a 1-year low of $193.52 and a 1-year high of $365.88. 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 (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating 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 period in the previous year, the company earned $2.08 earnings per share. Quanta Services’s quarterly revenue was up 15.5% on a year-over-year basis. As a group, 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 was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a dividend of $0.10 per share. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.13%. The ex-dividend date of this dividend was Thursday, January 2nd. Quanta Services’s dividend payout ratio is currently 7.38%.

Analyst Ratings Changes

PWR has been the subject of a number of research analyst reports. Truist Financial dropped their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Bank of America assumed coverage on Quanta Services in a report on Friday, January 24th. They issued a “buy” rating and a $407.00 price target for the company. Northland Securities restated an “outperform” rating and set a $328.00 price objective (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Finally, Daiwa Capital Markets began coverage on Quanta Services in a research note on Friday, December 6th. They issued an “outperform” rating and a $355.00 target price for the company. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $330.06.

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.