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

TruWealth Advisors LLC boosted its holdings in Quanta Services, Inc. (NYSE:PWR) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 45,553 shares of the construction company’s stock after buying an additional 583 shares during the period. TruWealth Advisors LLC’s holdings in Quanta Services were worth $14,397,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Prestige Wealth Management Group LLC purchased a new stake in Quanta Services in the third quarter valued at approximately $30,000. Legacy Investment Solutions LLC purchased a new stake in shares of Quanta Services during the 3rd quarter valued at $31,000. Versant Capital Management Inc increased its holdings in shares of Quanta Services by 62.5% during the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after buying an additional 45 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of Quanta Services in the 3rd quarter worth $41,000. Finally, Eastern Bank purchased a new stake in Quanta Services during the third quarter valued at about $44,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Ratings Changes

PWR has been the topic of several research analyst reports. Stifel Nicolaus lifted their price objective on Quanta Services from $343.00 to $374.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Citigroup boosted their price objective on shares of Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Truist Financial reduced their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday. Northland Securities reiterated an “outperform” rating and issued a $328.00 price target (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Finally, Daiwa America upgraded Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average 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 Friday. The company has a market capitalization of $49.76 billion, a price-to-earnings ratio of 62.20 and a beta of 1.06. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. Quanta Services, Inc. has a 12 month low of $187.27 and a 12 month high of $350.19. The company’s fifty day moving average price is $329.35 and its two-hundred day moving average price is $296.48.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.46 by $0.26. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.08 earnings per share. As a group, research analysts predict that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a dividend of $0.10 per share. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend was Thursday, January 2nd. Quanta Services’s dividend payout ratio is currently 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.