Empowered Funds LLC Purchases 185 Shares of Quanta Services, Inc. (NYSE:PWR)

Empowered Funds LLC raised its position in shares of Quanta Services, Inc. (NYSE:PWR) by 7.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,679 shares of the construction company’s stock after acquiring an additional 185 shares during the period. Empowered Funds LLC’s holdings in Quanta Services were worth $799,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. EntryPoint Capital LLC bought a new position in shares of Quanta Services in the first quarter worth about $25,000. Quadrature Capital Ltd bought a new position in Quanta Services in the 1st quarter worth approximately $1,128,000. LRI Investments LLC acquired a new position in Quanta Services during the 1st quarter worth $80,000. Lazard Asset Management LLC boosted its position in Quanta Services by 71,012.5% in the 1st quarter. Lazard Asset Management LLC now owns 5,689 shares of the construction company’s stock valued at $1,478,000 after buying an additional 5,681 shares during the last quarter. Finally, BOKF NA increased its stake in shares of Quanta Services by 25.4% in the 1st quarter. BOKF NA now owns 3,505 shares of the construction company’s stock valued at $909,000 after buying an additional 709 shares during the period. Institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on PWR shares. Citigroup lifted their price objective on Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Northland Securities reissued an “outperform” rating and set a $328.00 price target (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. TD Cowen raised their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. UBS Group lifted their target price on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Robert W. Baird increased their price target on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

Quanta Services Stock Up 0.6 %

Shares of NYSE:PWR opened at $341.92 on Friday. The firm has a market cap of $50.47 billion, a P/E ratio of 63.08 and a beta of 1.01. Quanta Services, Inc. has a 12-month low of $180.97 and a 12-month high of $343.70. The business has a fifty day simple moving average of $309.24 and a 200 day simple moving average of $280.17. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last announced its earnings results 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 during the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. Quanta Services’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.08 earnings per share. Analysts predict that Quanta Services, Inc. will post 7.88 earnings per share for the current year.

Quanta Services Increases Dividend

The firm also recently announced 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. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio is presently 6.64%.

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.