Quanta Services, Inc. (NYSE:PWR) Shares Purchased by Snowden Capital Advisors LLC

Snowden Capital Advisors LLC increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 39.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,365 shares of the construction company’s stock after purchasing an additional 1,522 shares during the quarter. Snowden Capital Advisors LLC’s holdings in Quanta Services were worth $1,696,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Geneos Wealth Management Inc. increased its position in shares of Quanta Services by 0.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock worth $1,317,000 after purchasing an additional 29 shares during the last quarter. Commonwealth Financial Services LLC grew its position in Quanta Services by 2.6% in the 4th quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock valued at $364,000 after acquiring an additional 29 shares in the last quarter. HB Wealth Management LLC grew its position in Quanta Services by 0.9% in the 4th quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock valued at $1,050,000 after acquiring an additional 31 shares in the last quarter. Moody Lynn & Lieberson LLC grew its position in Quanta Services by 0.5% in the 4th quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock valued at $1,941,000 after acquiring an additional 32 shares in the last quarter. Finally, Larson Financial Group LLC grew its position in Quanta Services by 7.8% in the 4th quarter. Larson Financial Group LLC now owns 456 shares of the construction company’s stock valued at $144,000 after acquiring an additional 33 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Price Performance

Shares of NYSE PWR opened at $344.92 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $365.88. The stock has a 50 day moving average of $281.22 and a two-hundred day moving average of $301.67. The stock has a market cap of $51.14 billion, a P/E ratio of 57.20, a P/E/G ratio of 1.41 and a beta of 1.02.

Quanta Services (NYSE:PWR) last issued 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 return on equity of 18.00% and a net margin of 3.82%. The company had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.88 billion. During the same quarter in the previous year, the business earned $1.41 earnings per share. The firm’s revenue for the quarter was up 23.9% on a year-over-year basis. On average, research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The company 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. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date was Thursday, April 3rd. Quanta Services’s dividend payout ratio is currently 6.45%.

Analysts Set New Price Targets

PWR has been the subject of several research reports. Citigroup dropped their target price on Quanta Services from $366.00 to $342.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Daiwa Capital Markets downgraded Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. B. Riley lifted their target price on Quanta Services from $300.00 to $355.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Piper Sandler set a $360.00 target price on Quanta Services and gave the company an “overweight” rating in a research report on Tuesday, May 6th. Finally, BMO Capital Markets set a $352.00 target price on Quanta Services in a research report on Friday, May 2nd. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $344.35.

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.