HB Wealth Management LLC grew its holdings in Quanta Services, Inc. (NYSE:PWR – Free Report) by 0.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,323 shares of the construction company’s stock after buying an additional 31 shares during the quarter. HB Wealth Management LLC’s holdings in Quanta Services were worth $1,050,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Prestige Wealth Management Group LLC acquired a new stake in Quanta Services in the third quarter valued at $30,000. Legacy Investment Solutions LLC acquired a new stake in shares of Quanta Services in the third quarter valued at about $31,000. Versant Capital Management Inc boosted its holdings in Quanta Services by 62.5% during the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after buying an additional 45 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in Quanta Services during the third quarter worth about $41,000. Finally, Eastern Bank purchased a new position in Quanta Services in the third quarter valued at about $44,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on PWR. Truist Financial lowered their price target on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Robert W. Baird raised their price target on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Guggenheim assumed coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Citigroup raised their target price on shares of Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Stifel Nicolaus increased their price target on shares of Quanta Services from $343.00 to $374.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $324.19.
Quanta Services Trading Up 0.3 %
NYSE PWR opened at $337.10 on Tuesday. The company has a market cap of $49.76 billion, a P/E ratio of 62.20 and a beta of 1.06. Quanta Services, Inc. has a 12 month low of $187.27 and a 12 month high of $350.19. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The company has a 50-day moving average of $329.50 and a 200-day moving average of $297.36.
Quanta Services (NYSE:PWR – Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter last year, the firm posted $2.08 earnings per share. Quanta Services’s revenue was up 15.5% on a year-over-year basis. As a group, equities analysts predict that Quanta Services, Inc. will post 7.9 earnings per share for the current year.
Quanta Services Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend was Thursday, January 2nd. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is 7.38%.
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.
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