Wilmington Savings Fund Society FSB Makes New $1.06 Million Investment in Quanta Services, Inc. (NYSE:PWR)

Wilmington Savings Fund Society FSB bought a new stake in Quanta Services, Inc. (NYSE:PWR) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 3,550 shares of the construction company’s stock, valued at approximately $1,058,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Prestige Wealth Management Group LLC acquired a new position in shares of Quanta Services in the third quarter valued at about $30,000. Legacy Investment Solutions LLC acquired a new position in Quanta Services in the 3rd quarter worth approximately $31,000. Valley Wealth Managers Inc. purchased a new position in Quanta Services during the 2nd quarter worth approximately $33,000. Quest Partners LLC acquired a new stake in Quanta Services during the 2nd quarter valued at approximately $35,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Quanta Services in the 2nd quarter valued at $38,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

NYSE PWR opened at $337.60 on Friday. 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 1-year low of $187.27 and a 1-year high of $350.19. The company has a market cap of $49.83 billion, a PE ratio of 62.29 and a beta of 1.03. The stock’s 50 day simple moving average is $322.72 and its 200-day simple moving average is $287.16.

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

Quanta Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be given a $0.10 dividend. The ex-dividend date is Thursday, January 2nd. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio is 7.38%.

Analyst Ratings Changes

A number of research analysts recently issued reports on PWR shares. Citigroup boosted their target price on shares of Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Wolfe Research initiated coverage on Quanta Services in a research note on Thursday, September 19th. They issued an “outperform” rating and a $313.00 target price on the stock. Truist Financial lifted their price target on Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Daiwa America upgraded Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Finally, Northland Securities reaffirmed an “outperform” rating and set a $328.00 target price (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $321.69.

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.