11,608 Shares in Quanta Services, Inc. (NYSE:PWR) Acquired by Tandem Financial LLC

Tandem Financial LLC acquired a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 11,608 shares of the construction company’s stock, valued at approximately $3,669,000. Quanta Services makes up 3.9% of Tandem Financial LLC’s holdings, making the stock its 9th biggest position.

Other institutional investors also recently bought and sold shares of the company. Webster Bank N. A. grew its position in shares of Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after acquiring an additional 81 shares during the period. Legacy Investment Solutions LLC acquired a new stake in shares of Quanta Services in the third quarter valued at approximately $31,000. Prestige Wealth Management Group LLC acquired a new stake in shares of Quanta Services in the 3rd quarter worth $30,000. Sound Income Strategies LLC boosted its holdings in Quanta Services by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after purchasing an additional 91 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in 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 purchasing an additional 45 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Stock Up 4.0 %

Shares of NYSE PWR opened at $310.81 on Friday. Quanta Services, Inc. has a 12-month low of $205.82 and a 12-month high of $365.88. The firm’s 50-day simple moving average is $325.27 and its 200 day simple moving average is $302.28. The company has a market cap of $45.88 billion, a price-to-earnings ratio of 57.35, a price-to-earnings-growth ratio of 1.54 and a beta of 1.05. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58.

Quanta Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a $0.10 dividend. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.13%. The ex-dividend date was Thursday, January 2nd. Quanta Services’s dividend payout ratio (DPR) is currently 7.38%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus upped their target price on shares of Quanta Services from $374.00 to $388.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. UBS Group lifted their price target on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Bank of America assumed coverage on shares of Quanta Services in a report on Friday, January 24th. They issued a “buy” rating and a $407.00 target price on the stock. Truist Financial cut their price target on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Finally, Daiwa Capital Markets assumed coverage on Quanta Services in a research report on Friday, December 6th. They issued an “outperform” rating and a $355.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $330.50.

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.