UNIVEST FINANCIAL Corp Increases Stake in Quanta Services, Inc. (NYSE:PWR)

UNIVEST FINANCIAL Corp increased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 3.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,154 shares of the construction company’s stock after buying an additional 64 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in Quanta Services were worth $681,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Centaurus Financial Inc. raised its holdings in shares of Quanta Services by 35.1% in the 3rd quarter. Centaurus Financial Inc. now owns 1,488 shares of the construction company’s stock valued at $444,000 after purchasing an additional 387 shares in the last quarter. Fisher Asset Management LLC purchased a new position in Quanta Services in the third quarter valued at $211,000. DRW Securities LLC acquired a new stake in Quanta Services in the third quarter valued at $481,000. Horizon Kinetics Asset Management LLC purchased a new stake in Quanta Services during the 3rd quarter worth about $268,000. Finally, Brooklyn Investment Group acquired a new position in shares of Quanta Services during the 3rd quarter worth about $125,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PWR shares. Stifel Nicolaus lowered their price target on Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a report on Monday, February 24th. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Guggenheim began coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They issued a “neutral” rating for the company. B. Riley reiterated a “neutral” rating and set a $300.00 target price (down previously from $343.00) on shares of Quanta Services in a research report on Wednesday, March 19th. Finally, Citigroup decreased their target price on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $326.79.

Quanta Services Stock Down 5.7 %

PWR opened at $260.45 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. Quanta Services, Inc. has a 12 month low of $227.11 and a 12 month high of $365.88. The stock has a market capitalization of $38.60 billion, a P/E ratio of 43.19, a P/E/G ratio of 1.41 and a beta of 1.10. The business has a 50 day simple moving average of $286.36 and a 200-day simple moving average of $304.69.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping the consensus estimate of $2.62 by $0.12. The company had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. On average, equities analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. Quanta Services’s payout ratio is 6.63%.

Quanta Services 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.