917 Shares in Quanta Services, Inc. (NYSE:PWR) Acquired by Petros Family Wealth LLC

Petros Family Wealth LLC purchased a new stake in Quanta Services, Inc. (NYSE:PWR) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 917 shares of the construction company’s stock, valued at approximately $290,000.

Several other large investors have also recently modified their holdings of PWR. Kestra Private Wealth Services LLC raised its position in Quanta Services by 85.0% during the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock worth $1,502,000 after purchasing an additional 2,184 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Quanta Services by 5.6% in the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock valued at $61,932,000 after buying an additional 11,012 shares during the period. Synovus Financial Corp raised its position in shares of Quanta Services by 34.0% during the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock worth $2,148,000 after acquiring an additional 1,830 shares during the last quarter. Allstate Corp acquired a new position in shares of Quanta Services in the fourth quarter worth approximately $1,357,000. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in Quanta Services by 4.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 17,573 shares of the construction company’s stock valued at $5,554,000 after acquiring an additional 793 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PWR. Truist Financial dropped their price target on shares of Quanta Services from $398.00 to $324.00 and set a “buy” rating on the stock in a research report on Tuesday. Guggenheim assumed coverage on shares of Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Piper Sandler assumed coverage on Quanta Services in a report on Tuesday. They set an “overweight” rating and a $286.00 price target for the company. Daiwa Capital Markets downgraded Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Finally, Roth Capital raised Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $319.25.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $269.90 on Friday. The company has a market cap of $40.00 billion, a PE ratio of 44.76, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $365.88. The business has a 50 day moving average price of $267.21 and a 200-day moving average price of $302.53.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data 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. The business had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. Equities analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were given a dividend of $0.10 per share. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.15%. Quanta Services’s dividend payout ratio is currently 6.63%.

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.