Vivid Wealth Management LLC Makes New Investment in Quanta Services, Inc. (NYSE:PWR)

Vivid Wealth Management LLC bought a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 6,931 shares of the construction company's stock, valued at approximately $2,191,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PWR. Webster Bank N. A. lifted its stake in Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. Prestige Wealth Management Group LLC acquired a new stake in Quanta Services during the 3rd quarter valued at $30,000. Legacy Investment Solutions LLC bought a new stake in Quanta Services in the 3rd quarter valued at $31,000. Sound Income Strategies LLC grew its position in shares of Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock worth $33,000 after purchasing an additional 91 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Quanta Services by 62.5% in the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company's stock worth $37,000 after purchasing an additional 45 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Trading Up 1.5 %

Shares of NYSE PWR traded up $4.45 during trading on Wednesday, hitting $292.04. 1,728,560 shares of the company were exchanged, compared to its average volume of 1,460,901. The company has a fifty day moving average price of $318.48 and a 200-day moving average price of $305.14. Quanta Services, Inc. has a 12-month low of $206.58 and a 12-month high of $365.88. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The firm has a market capitalization of $43.11 billion, a PE ratio of 53.88, a P/E/G ratio of 1.43 and a beta of 1.05.

Quanta Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a $0.10 dividend. This is a positive change from Quanta Services's previous quarterly dividend of $0.09. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. Quanta Services's dividend payout ratio (DPR) is presently 7.38%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Truist Financial dropped their price objective on shares of Quanta Services from $399.00 to $398.00 and set a "buy" rating for the company in a report on Thursday, January 16th. Northland Securities reiterated an "outperform" rating and issued a $328.00 target price (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Daiwa Capital Markets assumed coverage on shares of Quanta Services in a research note on Friday, December 6th. They issued an "outperform" rating and a $355.00 target price for the company. Daiwa America raised Quanta Services to a "strong-buy" rating in a research report on Friday, December 6th. Finally, Guggenheim began coverage on Quanta Services in a research note on Wednesday, January 8th. They issued a "neutral" rating on the stock. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $330.50.

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.