Focus Partners Wealth Buys 7,133 Shares of Quanta Services, Inc. (NYSE:PWR)

Focus Partners Wealth lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 36.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,454 shares of the construction company’s stock after purchasing an additional 7,133 shares during the quarter. Focus Partners Wealth’s holdings in Quanta Services were worth $8,361,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Banque Transatlantique SA bought a new position in Quanta Services in the 4th quarter valued at about $25,000. Webster Bank N. A. lifted its position in Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. Quarry LP bought a new position in Quanta Services in the 4th quarter valued at about $26,000. Sierra Ocean LLC bought a new position in Quanta Services in the 4th quarter valued at about $27,000. Finally, Sound Income Strategies LLC lifted its position 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 acquiring an additional 91 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on PWR. Piper Sandler set a $360.00 price target on shares of Quanta Services and gave the company an “overweight” rating in a research report on Tuesday, May 6th. Daiwa Capital Markets cut shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Roth Mkm initiated coverage on shares of Quanta Services in a research report on Friday, February 21st. They set a “buy” rating and a $350.00 target price on the stock. Evercore ISI lifted their target price on shares of Quanta Services from $331.00 to $360.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Finally, Daiwa America raised shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 11th. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $344.35.

Quanta Services Trading Up 3.5%

Shares of PWR stock opened at $344.56 on Wednesday. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $365.88. The firm has a market cap of $51.09 billion, a P/E ratio of 57.14, a PEG ratio of 1.41 and a beta of 1.02. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The company has a 50 day moving average of $275.22 and a 200-day moving average of $301.05.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share 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 during the quarter, compared to analyst estimates of $5.88 billion. During the same period in the previous year, the business earned $1.41 EPS. Quanta Services’s revenue was up 23.9% compared to the same quarter last year. Sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

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

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.