A. D. Beadell Investment Counsel Inc. Sells 525 Shares of Quanta Services, Inc. (NYSE:PWR)

A. D. Beadell Investment Counsel Inc. lowered its stake in Quanta Services, Inc. (NYSE:PWR) by 9.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,290 shares of the construction company’s stock after selling 525 shares during the period. Quanta Services accounts for approximately 1.4% of A. D. Beadell Investment Counsel Inc.’s holdings, making the stock its 27th biggest holding. A. D. Beadell Investment Counsel Inc.’s holdings in Quanta Services were worth $1,671,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Prestige Wealth Management Group LLC purchased a new position in shares of Quanta Services during the third quarter valued at about $30,000. Legacy Investment Solutions LLC purchased a new position in shares of Quanta Services during the 3rd quarter worth approximately $31,000. Valley Wealth Managers Inc. bought a new position in shares of Quanta Services in the 2nd quarter worth approximately $33,000. Quest Partners LLC purchased a new position in shares of Quanta Services in the 2nd quarter valued at approximately $35,000. Finally, Versant Capital Management Inc boosted its position in shares of Quanta Services by 62.5% during the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock valued at $37,000 after purchasing an additional 45 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Guggenheim started coverage on Quanta Services in a report on Wednesday. They issued a “neutral” rating for the company. UBS Group raised their target price on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Northland Securities reissued 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. TD Cowen raised their price objective on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, Citigroup increased their target price on Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $324.25.

Quanta Services Stock Performance

Shares of PWR traded down $1.09 during mid-day trading on Friday, hitting $311.11. 172,818 shares of the company traded hands, compared to its average volume of 807,582. Quanta Services, Inc. has a 1 year low of $187.27 and a 1 year high of $350.19. 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 $328.05 and a two-hundred day moving average price of $293.59. The stock has a market cap of $45.92 billion, a price-to-earnings ratio of 57.40 and a beta of 1.06.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the business posted $2.08 EPS. Equities analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The firm 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 represents a $0.40 annualized dividend and a dividend yield of 0.13%. The ex-dividend date of this dividend 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 7.38%.

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.