Quanta Services, Inc. (NYSE:PWR) Shares Sold by Northstar Advisory Group LLC

Northstar Advisory Group LLC decreased its holdings in Quanta Services, Inc. (NYSE:PWR) by 79.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 777 shares of the construction company’s stock after selling 2,975 shares during the quarter. Northstar Advisory Group LLC’s holdings in Quanta Services were worth $246,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in PWR. Legacy Investment Solutions LLC acquired a new stake in Quanta Services in the 3rd quarter valued at $31,000. Prestige Wealth Management Group LLC purchased a new stake in shares of Quanta Services in the third quarter worth about $30,000. Versant Capital Management Inc grew its stake in shares of Quanta Services by 62.5% in the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock valued at $37,000 after buying an additional 45 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Quanta Services during the 2nd quarter valued at about $35,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in Quanta Services in the 3rd quarter worth approximately $41,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

PWR has been the topic of a number of analyst reports. Truist Financial lifted their price objective on shares of Quanta Services from $358.00 to $399.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Guggenheim began coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They issued a “neutral” rating for the company. Wolfe Research assumed coverage on Quanta Services in a research report on Thursday, September 19th. They set an “outperform” rating and a $313.00 target price on the stock. Northland Securities reissued 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. Finally, JPMorgan Chase & Co. began coverage on Quanta Services in a research report on Monday, October 7th. They issued a “neutral” rating and a $297.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and an average target price of $324.25.

Quanta Services Stock Performance

Shares of Quanta Services stock traded up $0.90 on Monday, reaching $314.38. 798,060 shares of the company were exchanged, compared to its average volume of 901,794. The firm has a market cap of $46.41 billion, a price-to-earnings ratio of 58.00 and a beta of 1.06. Quanta Services, Inc. has a 1-year low of $187.27 and a 1-year high of $350.19. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The company’s 50-day moving average is $328.26 and its two-hundred day moving average is $294.21.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. During the same period last year, the business posted $2.08 earnings per share. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. 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 company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be paid a $0.10 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.13%. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio (DPR) is presently 7.38%.

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.