Avestar Capital LLC Increases Holdings in Quanta Services, Inc. (NYSE:PWR)

Avestar Capital LLC increased its position in Quanta Services, Inc. (NYSE:PWRFree Report) by 15.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,716 shares of the construction company’s stock after acquiring an additional 355 shares during the period. Avestar Capital LLC’s holdings in Quanta Services were worth $810,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Brooklyn Investment Group bought a new stake in shares of Quanta Services during the 3rd quarter valued at about $125,000. Horizon Kinetics Asset Management LLC bought a new position in Quanta Services in the third quarter worth approximately $268,000. Diversified LLC boosted its stake in shares of Quanta Services by 13.4% during the 3rd quarter. Diversified LLC now owns 1,246 shares of the construction company’s stock worth $371,000 after acquiring an additional 147 shares during the last quarter. DRW Securities LLC purchased a new position in Quanta Services during the third quarter valued at $481,000. Finally, Fisher Asset Management LLC bought a new stake in Quanta Services during the third quarter valued at about $211,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Up 1.1 %

Shares of NYSE PWR opened at $346.54 on Wednesday. The company has a market cap of $51.15 billion, a P/E ratio of 63.94 and a beta of 1.01. The firm has a 50-day simple moving average of $310.67 and a two-hundred day simple moving average of $280.88. Quanta Services, Inc. has a 1 year low of $180.97 and a 1 year high of $350.19. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19.

Quanta Services (NYSE:PWRGet Free Report) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter 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. Research analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, January 2nd will be paid a $0.10 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 annualized dividend and a yield of 0.12%. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio is 6.64%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Citigroup lifted their price objective on Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a research report on Friday, October 4th. UBS Group increased their price objective 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 lifted their target price on shares of Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. TD Cowen raised their price target on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, Robert W. Baird upped 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. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $314.27.

Read Our Latest Stock Report on Quanta Services

Quanta Services Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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