Quanta Services, Inc. (NYSE:PWR) Stake Lowered by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC trimmed its position in shares of Quanta Services, Inc. (NYSE:PWR) by 2.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 11,226 shares of the construction company’s stock after selling 279 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Quanta Services were worth $3,548,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Friedenthal Financial acquired a new position in shares of Quanta Services during the fourth quarter worth approximately $49,000. Eastern Bank grew its stake in shares of Quanta Services by 152.3% during the fourth quarter. Eastern Bank now owns 376 shares of the construction company’s stock worth $119,000 after purchasing an additional 227 shares during the period. Cooper Financial Group raised its stake in Quanta Services by 3.5% during the 4th quarter. Cooper Financial Group now owns 1,165 shares of the construction company’s stock worth $368,000 after buying an additional 39 shares during the period. Brookstone Capital Management increased its holdings in Quanta Services by 22.2% during the 4th quarter. Brookstone Capital Management now owns 29,982 shares of the construction company’s stock worth $9,476,000 after purchasing an additional 5,445 shares in the last quarter. Finally, Fiduciary Alliance LLC increased its position in shares of Quanta Services by 26.6% during the 4th quarter. Fiduciary Alliance LLC now owns 26,870 shares of the construction company’s stock worth $8,492,000 after purchasing an additional 5,643 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Price Performance

NYSE:PWR traded up $0.90 during mid-day trading on Monday, hitting $314.38. 798,063 shares of the stock traded hands, compared to its average volume of 901,794. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 12-month low of $187.27 and a 12-month high of $350.19. The company has a market cap of $46.41 billion, a PE ratio of 58.00 and a beta of 1.06. The business’s 50-day moving average price is $328.26 and its 200 day moving average price is $294.21.

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

Quanta Services Increases Dividend

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

Analysts Set New Price Targets

A number of research firms have issued reports on PWR. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Citigroup upped their target price on Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Stifel Nicolaus boosted their price target on Quanta Services from $343.00 to $374.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Guggenheim began coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating for the company. Finally, Wolfe Research started coverage on shares of Quanta Services in a research note on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $324.25.

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.