Keyes Stange & Wooten Wealth Management LLC Sells 37 Shares of Quanta Services, Inc. (NYSE:PWR)

Keyes Stange & Wooten Wealth Management LLC lowered its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 2.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,519 shares of the construction company’s stock after selling 37 shares during the quarter. Keyes Stange & Wooten Wealth Management LLC’s holdings in Quanta Services were worth $453,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. EntryPoint Capital LLC bought a new position in Quanta Services in the 1st quarter valued at $25,000. Cambridge Trust Co. purchased a new position in Quanta Services in the 1st quarter worth about $26,000. Valley Wealth Managers Inc. bought a new stake in Quanta Services during the 2nd quarter valued at about $33,000. Quest Partners LLC bought a new position in Quanta Services in the 2nd quarter worth about $35,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Quanta Services during the second quarter worth approximately $38,000. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Truist Financial upped their target price on Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Northland Securities restated an “outperform” rating and issued a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. JPMorgan Chase & Co. initiated coverage on shares of Quanta Services in a research note on Monday, October 7th. They set a “neutral” rating and a $297.00 price objective on the stock. 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, B. Riley boosted their price objective on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and a consensus price target of $314.27.

Quanta Services Stock Up 0.6 %

Quanta Services stock opened at $341.90 on Friday. The company has a market capitalization of $50.47 billion, a P/E ratio of 63.08 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. Quanta Services, Inc. has a fifty-two week low of $180.97 and a fifty-two week high of $343.70. The stock has a 50-day simple moving average of $307.80 and a 200-day simple moving average of $279.67.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) 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 the consensus estimate of $6.56 billion. During the same period last year, the firm posted $2.08 EPS. Quanta Services’s revenue for the quarter was up 15.5% on a year-over-year basis. Equities research analysts expect that Quanta Services, Inc. will post 7.88 earnings per share for the current year.

Quanta Services Increases Dividend

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

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.