Whalen Wealth Management Inc. Acquires New Position in Quanta Services, Inc. (NYSE:PWR)

Whalen Wealth Management Inc. bought a new position in Quanta Services, Inc. (NYSE:PWR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,720 shares of the construction company’s stock, valued at approximately $544,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PWR. HB Wealth Management LLC grew its position in Quanta Services by 0.9% in the 4th quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock worth $1,050,000 after purchasing an additional 31 shares during the last quarter. Resurgent Financial Advisors LLC grew its holdings in Quanta Services by 0.7% in the 3rd quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock worth $1,423,000 after buying an additional 33 shares in the last quarter. Tower Wealth Partners Inc. increased its position in Quanta Services by 3.1% in the 3rd 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 Quanta Services by 2.9% during the 3rd 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 in the last quarter. Finally, Terra Nova Asset Management LLC lifted its holdings in Quanta Services by 0.3% in 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. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Down 0.3 %

NYSE PWR opened at $357.02 on Thursday. Quanta Services, Inc. has a 1-year low of $187.27 and a 1-year high of $365.88. The company has a market capitalization of $52.70 billion, a price-to-earnings ratio of 65.87 and a beta of 1.06. The stock’s 50 day moving average is $330.71 and its two-hundred day moving average is $298.51. The company has a current ratio of 1.23, a quick ratio of 1.19 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 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 business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same period in the previous year, the business earned $2.08 EPS. Quanta Services’s revenue was up 15.5% compared to the same quarter last year. Equities analysts forecast that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were issued a dividend of $0.10 per share. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.40 annualized dividend and a yield of 0.11%. Quanta Services’s dividend payout ratio is currently 7.38%.

Wall Street Analyst Weigh In

A number of research firms recently commented on PWR. Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Robert W. Baird boosted their price objective on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. UBS Group raised their target price on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Citigroup boosted their price target on shares of Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Daiwa Capital Markets assumed coverage on shares of Quanta Services in a research report on Friday, December 6th. They set an “outperform” rating and a $355.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and an average price target of $325.06.

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.