Moody Lynn & Lieberson LLC Purchases 32 Shares of Quanta Services, Inc. (NYSE:PWR)

Moody Lynn & Lieberson LLC boosted its position in shares of Quanta Services, Inc. (NYSE:PWR) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,141 shares of the construction company’s stock after buying an additional 32 shares during the period. Moody Lynn & Lieberson LLC’s holdings in Quanta Services were worth $1,941,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Alkeon Capital Management LLC grew its stake in shares of Quanta Services by 62.5% in the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock worth $193,798,000 after buying an additional 250,000 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Quanta Services by 29,655.3% in the 3rd quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company’s stock valued at $44,269,000 after acquiring an additional 147,980 shares during the last quarter. Public Sector Pension Investment Board grew its position in Quanta Services by 81.7% in the third quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company’s stock worth $83,210,000 after acquiring an additional 125,530 shares in the last quarter. Meitav Investment House Ltd. bought a new stake in Quanta Services during the third quarter worth approximately $27,430,000. Finally, State Street Corp raised its position in Quanta Services by 1.6% during the third quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock valued at $1,713,956,000 after purchasing an additional 89,975 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

PWR has been the subject of a number of recent research reports. JPMorgan Chase & Co. assumed coverage on Quanta Services in a report on Monday, October 7th. They issued a “neutral” rating and a $297.00 target price for the company. Truist Financial dropped their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Citigroup increased their target price on shares of Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a research note on Monday, December 9th. TD Cowen lifted their price target on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, Northland Securities reissued an “outperform” rating and issued a $328.00 price objective (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $329.88.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $357.55 on Friday. 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 stock’s fifty day moving average price is $332.01 and its 200-day moving average price is $299.93. The firm has a market cap of $52.78 billion, a P/E ratio of 65.97 and a beta of 1.06. Quanta Services, Inc. has a 12 month low of $193.50 and a 12 month high of $365.88.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter last year, the firm posted $2.08 EPS. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, equities research analysts expect that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The business also recently announced 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. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.11%. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio is currently 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.