Perbak Capital Partners LLP Boosts Stock Position in Quanta Services, Inc. (NYSE:PWR)

Perbak Capital Partners LLP increased its position in Quanta Services, Inc. (NYSE:PWR) by 95.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,109 shares of the construction company’s stock after acquiring an additional 2,496 shares during the quarter. Quanta Services comprises approximately 0.9% of Perbak Capital Partners LLP’s holdings, making the stock its 28th biggest position. Perbak Capital Partners LLP’s holdings in Quanta Services were worth $1,615,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Lido Advisors LLC lifted its stake in shares of Quanta Services by 12.5% during the 4th quarter. Lido Advisors LLC now owns 5,108 shares of the construction company’s stock valued at $1,614,000 after buying an additional 566 shares in the last quarter. Northern Trust Corp grew its position in shares of Quanta Services by 18.5% during the fourth quarter. Northern Trust Corp now owns 1,489,433 shares of the construction company’s stock worth $470,735,000 after purchasing an additional 232,375 shares in the last quarter. Second Half Financial Partners LLC purchased a new position in Quanta Services in the 4th quarter worth approximately $434,000. Quarry LP bought a new position in Quanta Services in the 4th quarter worth approximately $26,000. Finally, Prosperity Consulting Group LLC raised its position in shares of Quanta Services by 1.0% during the fourth quarter. Prosperity Consulting Group LLC now owns 4,545 shares of the construction company’s stock valued at $1,436,000 after buying an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Piper Sandler started coverage on shares of Quanta Services in a research note on Tuesday, April 8th. They set an “overweight” rating and a $286.00 target price for the company. B. Riley restated a “neutral” rating and set a $300.00 price target (down previously from $343.00) on shares of Quanta Services in a report on Wednesday, March 19th. Truist Financial decreased their price objective on Quanta Services from $398.00 to $324.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. The Goldman Sachs Group reduced their price target on shares of Quanta Services from $418.00 to $364.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Finally, Citigroup lowered their price objective on shares of Quanta Services from $366.00 to $342.00 and set a “buy” rating for the company in a research report on Friday. Six analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $321.70.

Quanta Services Stock Performance

PWR stock opened at $291.52 on Tuesday. The company has a market capitalization of $43.22 billion, a P/E ratio of 48.35, a PEG ratio of 1.41 and a beta of 1.04. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $365.88. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The business has a 50-day moving average price of $261.84 and a 200 day moving average price of $300.27.

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

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were given a $0.10 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.14%. Quanta Services’s dividend payout ratio is currently 6.63%.

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.