Lebenthal Global Advisors LLC Boosts Position in Quanta Services, Inc. (NYSE:PWR)

Lebenthal Global Advisors LLC boosted its holdings in Quanta Services, Inc. (NYSE:PWR) by 10.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,627 shares of the construction company’s stock after acquiring an additional 832 shares during the quarter. Lebenthal Global Advisors LLC’s holdings in Quanta Services were worth $2,727,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PWR. APG Asset Management N.V. increased its stake in Quanta Services by 236.6% in the 2nd quarter. APG Asset Management N.V. now owns 17,401 shares of the construction company’s stock worth $4,125,000 after purchasing an additional 12,231 shares during the period. Mackenzie Financial Corp grew its holdings in Quanta Services by 1.6% in the second quarter. Mackenzie Financial Corp now owns 12,762 shares of the construction company’s stock worth $3,243,000 after purchasing an additional 204 shares during the period. Driehaus Capital Management LLC boosted its holdings in Quanta Services by 21.9% in the second quarter. Driehaus Capital Management LLC now owns 102,771 shares of the construction company’s stock worth $26,113,000 after acquiring an additional 18,466 shares in the last quarter. Ascent Group LLC increased its stake in Quanta Services by 14.8% during the 2nd quarter. Ascent Group LLC now owns 12,426 shares of the construction company’s stock valued at $3,157,000 after purchasing an additional 1,598 shares in the last quarter. Finally, Creative Planning raised its holdings in Quanta Services by 8.9% in the 2nd quarter. Creative Planning now owns 20,700 shares of the construction company’s stock worth $5,260,000 after acquiring an additional 1,694 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PWR shares. Stifel Nicolaus boosted their target price on Quanta Services from $374.00 to $388.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Truist Financial cut their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Citigroup lifted their price target on shares of Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, TD Cowen upped their price objective on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $329.88.

Quanta Services Price Performance

Shares of Quanta Services stock opened at $308.39 on Monday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 12 month low of $193.52 and a 12 month high of $365.88. The stock has a 50 day moving average of $332.01 and a 200 day moving average of $300.23. The firm has a market cap of $45.52 billion, a PE ratio of 56.90 and a beta of 1.06.

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

Quanta Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.10 per share. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend was Thursday, January 2nd. Quanta Services’s 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.