689 Shares in Quanta Services, Inc. (NYSE:PWR) Purchased by Evercore Wealth Management LLC

Evercore Wealth Management LLC acquired a new stake in Quanta Services, Inc. (NYSE:PWR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 689 shares of the construction company’s stock, valued at approximately $218,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Syon Capital LLC purchased a new position in shares of Quanta Services during the 4th quarter worth $250,000. T. Rowe Price Investment Management Inc. lifted its position in Quanta Services by 0.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 821,110 shares of the construction company’s stock worth $259,512,000 after buying an additional 3,720 shares during the period. MGO One Seven LLC boosted its stake in Quanta Services by 179.1% in the 4th quarter. MGO One Seven LLC now owns 13,609 shares of the construction company’s stock worth $4,301,000 after buying an additional 8,733 shares during the last quarter. Harvest Investment Services LLC grew its holdings in Quanta Services by 137.5% in the 4th quarter. Harvest Investment Services LLC now owns 12,451 shares of the construction company’s stock valued at $3,935,000 after buying an additional 7,208 shares during the period. Finally, OneDigital Investment Advisors LLC lifted its holdings in shares of Quanta Services by 13.9% during the 4th quarter. OneDigital Investment Advisors LLC now owns 1,270 shares of the construction company’s stock worth $401,000 after acquiring an additional 155 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $282.48 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $365.88. The firm’s 50-day simple moving average is $261.83 and its 200-day simple moving average is $300.63. The firm has a market cap of $41.88 billion, a PE ratio of 46.85, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Equities analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio (DPR) is 6.63%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PWR. Stifel Nicolaus dropped their price target on shares of Quanta Services from $323.00 to $287.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. B. Riley reiterated a “neutral” rating and issued a $300.00 target price (down previously from $343.00) on shares of Quanta Services in a report on Wednesday, March 19th. Bank of America assumed coverage on Quanta Services in a research note on Friday, January 24th. They set a “buy” rating and a $407.00 price target for the company. Citigroup decreased their target price on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, Truist Financial reduced 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, April 8th. Six investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $323.15.

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.