Prospera Financial Services Inc Takes Position in Quanta Services, Inc. (NYSE:PWR)

Prospera Financial Services Inc purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,018 shares of the construction company’s stock, valued at approximately $900,000.

Other institutional investors have also recently made changes to their positions in the company. Electron Capital Partners LLC raised its stake in shares of Quanta Services by 395.1% during the 2nd quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after purchasing an additional 2,092,519 shares during the period. Swedbank AB purchased a new stake in shares of Quanta Services in the 1st quarter valued at about $227,218,000. American Century Companies Inc. raised its holdings in shares of Quanta Services by 1,445.3% in the 2nd quarter. American Century Companies Inc. now owns 395,152 shares of the construction company’s stock valued at $100,404,000 after acquiring an additional 369,581 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Quanta Services by 17.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock valued at $313,968,000 after acquiring an additional 186,306 shares in the last quarter. Finally, National Bank of Canada FI raised its holdings in shares of Quanta Services by 297.3% in the 2nd quarter. National Bank of Canada FI now owns 215,914 shares of the construction company’s stock valued at $53,455,000 after acquiring an additional 161,574 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Up 0.6 %

Shares of NYSE:PWR opened at $341.90 on Friday. The firm has a market capitalization of $50.47 billion, a P/E ratio of 62.85 and a beta of 1.01. 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 50 day moving average price of $307.80 and a 200-day moving average price of $279.67. Quanta Services, Inc. has a 52-week low of $180.97 and a 52-week high of $343.70.

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, topping analysts’ consensus estimates of $2.46 by $0.26. The business 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 revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.08 earnings per share. As a group, equities research analysts anticipate that Quanta Services, Inc. will post 7.88 EPS for the current fiscal year.

Quanta Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date is Thursday, January 2nd. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio is 6.64%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. JPMorgan Chase & Co. began coverage on Quanta Services in a report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price target on the stock. Jefferies Financial Group initiated coverage on Quanta Services in a report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price objective on the stock. Wolfe Research began coverage on Quanta Services in a research report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price target on the stock. Truist Financial increased their price objective on Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Citigroup lifted their target price on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and an average target price of $314.27.

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.