Quanta Services, Inc. (NYSE:PWR) Stock Position Lowered by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lowered its position in shares of Quanta Services, Inc. (NYSE:PWR) by 24.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,168 shares of the construction company’s stock after selling 371 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Quanta Services were worth $348,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of PWR. Versor Investments LP acquired a new position in shares of Quanta Services in the 3rd quarter worth approximately $406,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Quanta Services by 5.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock valued at $9,366,000 after buying an additional 1,981 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Quanta Services by 115.0% during the 1st quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock valued at $10,203,000 after acquiring an additional 21,003 shares during the last quarter. Czech National Bank boosted its stake in shares of Quanta Services by 8.9% during the 2nd quarter. Czech National Bank now owns 27,827 shares of the construction company’s stock worth $7,071,000 after acquiring an additional 2,264 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Quanta Services by 892.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the construction company’s stock worth $262,000 after acquiring an additional 910 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PWR. TD Cowen increased their price target on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Jefferies Financial Group assumed coverage on Quanta Services in a report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 target price for the company. Stifel Nicolaus upped their price target on Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Citigroup lifted their target price on Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Finally, 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. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

Quanta Services Price Performance

NYSE PWR opened at $346.54 on Wednesday. Quanta Services, Inc. has a fifty-two week low of $180.97 and a fifty-two week high of $350.19. The stock’s 50-day moving average is $310.67 and its two-hundred day moving average is $280.88. The firm has a market cap of $51.15 billion, a P/E ratio of 63.94 and a beta of 1.01. 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:PWR) last posted its 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 return on equity of 16.71% and a net margin of 3.54%. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same period in the previous year, the company earned $2.08 EPS. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, analysts anticipate that Quanta Services, Inc. will post 7.88 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

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