Horizon Kinetics Asset Management LLC Makes New Investment in Quanta Services, Inc. (NYSE:PWR)

Horizon Kinetics Asset Management LLC acquired a new position in shares of Quanta Services, Inc. (NYSE:PWR) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 900 shares of the construction company’s stock, valued at approximately $268,000.

Several other large investors also recently bought and sold shares of the company. Electron Capital Partners LLC increased its stake in 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 worth $666,260,000 after buying an additional 2,092,519 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Quanta Services by 17.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock worth $313,968,000 after buying an additional 186,306 shares in the last quarter. Swedbank AB grew its position in shares of Quanta Services by 4.6% in the third quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after purchasing an additional 42,579 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Quanta Services by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 848,776 shares of the construction company’s stock valued at $253,063,000 after purchasing an additional 11,565 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Quanta Services by 1.6% in the third quarter. PNC Financial Services Group Inc. now owns 605,782 shares of the construction company’s stock valued at $180,614,000 after purchasing an additional 9,705 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PWR shares. Northland Securities restated an “outperform” rating and issued a $328.00 price target (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. B. Riley upped their price target on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Wolfe Research began coverage on Quanta Services in a research report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price target for the company. Robert W. Baird increased their price objective on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Jefferies Financial Group began coverage on Quanta Services in a research report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price objective for the company. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $314.27.

Quanta Services Stock Up 1.1 %

NYSE:PWR opened at $346.54 on Wednesday. The stock has a market capitalization of $51.15 billion, a price-to-earnings ratio of 63.94 and a beta of 1.01. 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, Inc. has a 52 week low of $180.97 and a 52 week high of $350.19. The stock’s fifty day moving average is $310.67 and its two-hundred day moving average is $280.88.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 16.71% and a net margin of 3.54%. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period last year, the firm earned $2.08 earnings per share. Research analysts anticipate 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 is a boost from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. The ex-dividend date is Thursday, January 2nd. Quanta Services’s dividend payout ratio (DPR) is presently 6.64%.

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.