Harvest Investment Services LLC Buys 7,208 Shares of Quanta Services, Inc. (NYSE:PWR)

Harvest Investment Services LLC grew its holdings in Quanta Services, Inc. (NYSE:PWR) by 137.5% in the 4th quarter, Holdings Channel reports. The fund owned 12,451 shares of the construction company’s stock after purchasing an additional 7,208 shares during the quarter. Quanta Services accounts for 1.0% of Harvest Investment Services LLC’s portfolio, making the stock its 24th biggest position. Harvest Investment Services LLC’s holdings in Quanta Services were worth $3,935,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PWR. Kestra Private Wealth Services LLC boosted its holdings in shares of Quanta Services by 85.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock valued at $1,502,000 after buying an additional 2,184 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Quanta Services by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after purchasing an additional 11,012 shares in the last quarter. Synovus Financial Corp increased its holdings in Quanta Services by 34.0% in the 3rd quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after buying an additional 1,830 shares during the period. Allstate Corp bought a new position in shares of Quanta Services in the 4th quarter valued at $1,357,000. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in shares of 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 worth $5,554,000 after acquiring an additional 793 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PWR shares. Piper Sandler began coverage on shares of Quanta Services in a research note on Tuesday, April 8th. They set an “overweight” rating and a $286.00 price target for the company. Bank of America assumed coverage on Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 target price for the company. Truist Financial decreased their target price on shares of Quanta Services from $398.00 to $324.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Guggenheim assumed coverage on Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating on the stock. Finally, B. Riley reaffirmed a “neutral” rating and issued a $300.00 target price (down from $343.00) on shares of Quanta Services in a report on Wednesday, March 19th. Six analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $319.25.

Quanta Services Price Performance

PWR stock opened at $254.11 on Tuesday. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $365.88. The firm has a market capitalization of $37.68 billion, a PE ratio of 42.14, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. The business has a 50 day simple moving average of $262.67 and a 200-day simple moving average of $301.26. 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 (NYSE:PWR) last issued its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $6.61 billion. Equities research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were paid a $0.10 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.16%. Quanta Services’s dividend payout ratio is presently 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.