Everence Capital Management Inc. Buys 700 Shares of Quanta Services, Inc. (NYSE:PWR)

Everence Capital Management Inc. raised its position in shares of Quanta Services, Inc. (NYSE:PWR) by 52.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,040 shares of the construction company’s stock after purchasing an additional 700 shares during the period. Everence Capital Management Inc.’s holdings in Quanta Services were worth $645,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of PWR. Resurgent Financial Advisors LLC increased its holdings in Quanta Services by 0.7% in the 3rd quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock worth $1,423,000 after acquiring an additional 33 shares during the last quarter. Tower Wealth Partners Inc. increased its stake in shares of Quanta Services by 3.1% in the third quarter. Tower Wealth Partners Inc. now owns 1,122 shares of the construction company’s stock worth $335,000 after purchasing an additional 34 shares in the last quarter. Huntington National Bank raised its position in shares of Quanta Services by 2.9% in the third quarter. Huntington National Bank now owns 1,240 shares of the construction company’s stock valued at $370,000 after purchasing an additional 35 shares during the period. Terra Nova Asset Management LLC boosted its holdings in Quanta Services by 0.3% in the 3rd quarter. Terra Nova Asset Management LLC now owns 12,779 shares of the construction company’s stock worth $3,810,000 after buying an additional 38 shares during the period. Finally, Greenleaf Trust grew its stake in Quanta Services by 1.2% in the 3rd quarter. Greenleaf Trust now owns 3,154 shares of the construction company’s stock valued at $940,000 after buying an additional 38 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Up 3.5 %

PWR opened at $326.52 on Friday. The business’s fifty day simple moving average is $327.41 and its 200 day simple moving average is $292.55. Quanta Services, Inc. has a 52 week low of $187.27 and a 52 week high of $350.19. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The stock has a market cap of $48.20 billion, a PE ratio of 60.24 and a beta of 1.06.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.46 by $0.26. The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company’s revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the company earned $2.08 EPS. As a group, research analysts expect that Quanta Services, Inc. will post 7.9 earnings per share 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 paid a $0.10 dividend. 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 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio is 7.38%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. TD Cowen increased their target price on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. began coverage on Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 target price for the company. Robert W. Baird upped their price target on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Finally, Northland Securities reaffirmed an “outperform” rating and set a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $324.25.

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.