Friedenthal Financial Buys Shares of 155 Quanta Services, Inc. (NYSE:PWR)

Friedenthal Financial purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 155 shares of the construction company’s stock, valued at approximately $49,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PWR. Electron Capital Partners LLC increased its position in shares of Quanta Services by 395.1% during the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after acquiring an additional 2,092,519 shares during the last quarter. Alkeon Capital Management LLC increased its holdings in Quanta Services by 62.5% in the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock valued at $193,798,000 after purchasing an additional 250,000 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Quanta Services by 17.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock valued at $313,968,000 after purchasing an additional 186,306 shares during the period. Public Sector Pension Investment Board lifted its stake in Quanta Services by 4,701.7% during the second quarter. Public Sector Pension Investment Board now owns 153,559 shares of the construction company’s stock worth $39,018,000 after purchasing an additional 150,361 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of Quanta Services by 29,655.3% during the third quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company’s stock worth $44,269,000 after buying an additional 147,980 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Stifel Nicolaus increased their target price on Quanta Services from $343.00 to $374.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. assumed coverage on shares of Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 price objective for the company. UBS Group upped their target price on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Truist Financial raised their price target on shares of Quanta Services from $358.00 to $399.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, Daiwa America upgraded Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $324.25.

Quanta Services Stock Up 0.3 %

Shares of NYSE:PWR opened at $314.38 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The firm has a 50 day simple moving average of $328.26 and a 200-day simple moving average of $294.21. The company has a market capitalization of $46.41 billion, a PE ratio of 58.00 and a beta of 1.06. Quanta Services, Inc. has a twelve month low of $187.27 and a twelve month high of $350.19.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share (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 company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same quarter last year, the company posted $2.08 earnings per share. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, equities analysts predict that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were issued a $0.10 dividend. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.13%. The ex-dividend date was Thursday, January 2nd. Quanta Services’s dividend payout ratio is presently 7.38%.

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.