Tower Research Capital LLC TRC Grows Position in Quanta Services, Inc. (NYSE:PWR)

Tower Research Capital LLC TRC boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 220.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,469 shares of the construction company's stock after purchasing an additional 7,206 shares during the quarter. Tower Research Capital LLC TRC's holdings in Quanta Services were worth $3,309,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. raised its stake in Quanta Services by 0.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company's stock valued at $1,317,000 after purchasing an additional 29 shares during the period. Commonwealth Financial Services LLC raised its stake in Quanta Services by 2.6% during the 4th quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company's stock valued at $364,000 after purchasing an additional 29 shares during the period. HB Wealth Management LLC raised its stake in Quanta Services by 0.9% during the 4th quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company's stock valued at $1,050,000 after purchasing an additional 31 shares during the period. Moody Lynn & Lieberson LLC raised its stake in Quanta Services by 0.5% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company's stock valued at $1,941,000 after purchasing an additional 32 shares during the period. Finally, Larson Financial Group LLC raised its stake in Quanta Services by 7.8% during the 4th quarter. Larson Financial Group LLC now owns 456 shares of the construction company's stock valued at $144,000 after purchasing an additional 33 shares during the period. Institutional investors own 90.49% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Citigroup cut their price target on Quanta Services from $366.00 to $342.00 and set a "buy" rating for the company in a report on Friday. The Goldman Sachs Group cut their price target on Quanta Services from $418.00 to $364.00 and set a "buy" rating for the company in a report on Thursday. Stifel Nicolaus cut their price target on Quanta Services from $323.00 to $287.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Piper Sandler assumed coverage on Quanta Services in a report on Tuesday, April 8th. They issued an "overweight" rating and a $286.00 target price for the company. Finally, BMO Capital Markets upgraded Quanta Services from a "market perform" rating to an "outperform" rating and dropped their target price for the stock from $338.00 to $316.00 in a report on Tuesday, February 25th. Six research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, Quanta Services presently has a consensus rating of "Moderate Buy" and a consensus target price of $321.70.

Quanta Services Stock Performance

Shares of NYSE:PWR traded up $5.52 during trading on Friday, hitting $287.64. 1,205,547 shares of the stock traded hands, compared to its average volume of 1,640,927. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The company has a market cap of $42.65 billion, a price-to-earnings ratio of 47.70, a P/E/G ratio of 1.41 and a beta of 1.04. The company has a fifty day moving average price of $261.85 and a two-hundred day moving average price of $300.39. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $365.88.

Quanta Services (NYSE:PWR - Get Free Report) last posted its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The firm had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. As a group, equities analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.14%. Quanta Services's dividend payout ratio is currently 6.63%.

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.