1,005 Shares in Quanta Services, Inc. (NYSE:PWR) Purchased by Advisors Capital Management LLC

Advisors Capital Management LLC acquired a new stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,005 shares of the construction company's stock, valued at approximately $318,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Webster Bank N. A. grew its position 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 worth $26,000 after purchasing an additional 81 shares during the period. Sierra Ocean LLC purchased a new position in Quanta Services during the 4th quarter valued at approximately $27,000. Sound Income Strategies LLC raised 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 valued at $33,000 after buying an additional 91 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in Quanta Services during the 4th quarter valued at $34,000. Finally, Versant Capital Management Inc boosted its position in shares of Quanta Services by 62.5% during the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company's stock valued at $37,000 after buying an additional 45 shares during the period. Institutional investors own 90.49% of the company's stock.

Quanta Services Stock Down 0.7 %

PWR stock traded down $1.98 during trading on Friday, hitting $267.47. 971,294 shares of the company's stock were exchanged, compared to its average volume of 1,665,740. The business has a 50-day moving average price of $263.56 and a two-hundred day moving average price of $301.58. 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 52-week low of $227.08 and a 52-week high of $365.88. The stock has a market capitalization of $39.64 billion, a price-to-earnings ratio of 44.36, a PEG ratio of 1.41 and a beta of 1.04.

Quanta Services (NYSE:PWR - Get Free Report) last announced its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The company had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. As a group, equities research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend was Thursday, April 3rd. Quanta Services's dividend payout ratio is presently 6.63%.

Analysts Set New Price Targets

Several research firms have commented on PWR. B. Riley restated a "neutral" rating and set a $300.00 price objective (down from $343.00) on shares of Quanta Services in a report on Wednesday, March 19th. Roth Capital raised shares of Quanta Services to a "strong-buy" rating in a report on Thursday, February 20th. Roth Mkm began coverage on Quanta Services in a report on Friday, February 21st. They issued a "buy" rating and a $350.00 price target for the company. Bank of America initiated coverage on Quanta Services in a research note on Friday, January 24th. They issued a "buy" rating and a $407.00 price objective for the company. Finally, Piper Sandler assumed coverage on shares of Quanta Services in a research report on Tuesday, April 8th. They set an "overweight" rating and a $286.00 price target on the stock. Six investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $319.25.

Quanta Services Company 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.