Lionshead Wealth Management LLC Purchases Shares of 6,236 Quanta Services, Inc. (NYSE:PWR)

Lionshead Wealth Management LLC purchased a new stake in Quanta Services, Inc. (NYSE:PWR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,236 shares of the construction company’s stock, valued at approximately $1,970,000. Quanta Services accounts for 1.4% of Lionshead Wealth Management LLC’s investment portfolio, making the stock its 22nd biggest position.

A number of other hedge funds have also modified their holdings of PWR. Banque Transatlantique SA acquired a new position in Quanta Services during the 4th quarter worth approximately $25,000. Webster Bank N. A. lifted its position in shares of Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Quarry LP bought a new stake in shares of Quanta Services in the fourth quarter worth $26,000. Sierra Ocean LLC bought a new stake in shares of Quanta Services in the fourth quarter worth $27,000. Finally, Sound Income Strategies LLC increased its stake 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 buying an additional 91 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Price Performance

Shares of PWR opened at $326.00 on Monday. The firm has a market capitalization of $48.33 billion, a PE ratio of 54.06, a PEG ratio of 1.41 and a beta of 1.02. The company’s 50-day moving average is $271.55 and its 200-day moving average is $300.57. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week 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.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. During the same quarter in the prior year, the business earned $1.41 EPS. Quanta Services’s quarterly revenue was up 23.9% on a year-over-year basis. Equities analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors 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 annualized dividend and a yield of 0.12%. Quanta Services’s payout ratio is currently 6.45%.

Analysts Set New Price Targets

Several brokerages have issued reports on PWR. Bank of America initiated coverage on shares of Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 price target on the stock. Daiwa America raised Quanta Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 11th. Piper Sandler set a $360.00 price target on Quanta Services and gave the company an “overweight” rating in a research report on Tuesday, May 6th. Evercore ISI upped their price objective on Quanta Services from $331.00 to $360.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Finally, B. Riley upped their price objective on Quanta Services from $300.00 to $355.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $344.35.

Quanta Services 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.