Wealth Enhancement Advisory Services LLC Acquires 14,446 Shares of Quanta Services, Inc. (NYSE:PWR)

Wealth Enhancement Advisory Services LLC grew its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 27.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 66,291 shares of the construction company’s stock after purchasing an additional 14,446 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Quanta Services were worth $20,951,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Quanta Services by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock worth $5,375,828,000 after buying an additional 161,277 shares in the last quarter. Capital World Investors grew its stake in Quanta Services by 14.1% in the fourth quarter. Capital World Investors now owns 7,223,471 shares of the construction company’s stock valued at $2,282,978,000 after acquiring an additional 891,977 shares during the period. Geode Capital Management LLC grew its stake in Quanta Services by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company’s stock valued at $1,121,830,000 after acquiring an additional 99,416 shares during the period. Invesco Ltd. grew its stake in Quanta Services by 3.7% in the fourth quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company’s stock valued at $604,871,000 after acquiring an additional 68,565 shares during the period. Finally, Norges Bank acquired a new stake in Quanta Services in the fourth quarter valued at approximately $544,937,000. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Up 0.7%

PWR stock opened at $342.04 on Friday. The stock’s fifty day simple moving average is $295.98 and its two-hundred day simple moving average is $303.41. 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 1-year low of $227.08 and a 1-year high of $365.88. The stock has a market cap of $50.71 billion, a P/E ratio of 56.72, a P/E/G ratio of 1.41 and a beta of 1.02.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The business had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $5.88 billion. During the same quarter in the previous year, the firm earned $1.41 earnings per share. The business’s revenue was up 23.9% on a year-over-year basis. Analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be given a $0.10 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 annualized dividend and a yield of 0.12%. Quanta Services’s dividend payout ratio is currently 6.45%.

Wall Street Analyst Weigh In

A number of brokerages have commented on PWR. Daiwa Capital Markets cut Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Roth Capital raised Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Truist Financial reduced their price objective on Quanta Services from $398.00 to $324.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Citigroup reduced their price objective on Quanta Services from $366.00 to $342.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Finally, Argus set a $375.00 price objective on Quanta Services in a research note on Monday, May 5th. Six analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and an average price target of $344.85.

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.