Bank of Montreal Can grew its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 2.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 284,638 shares of the construction company's stock after acquiring an additional 6,148 shares during the period. Bank of Montreal Can owned 0.19% of Quanta Services worth $89,960,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of PWR. Webster Bank N. A. lifted its holdings in shares of 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 buying an additional 81 shares during the period. Sierra Ocean LLC purchased a new stake in Quanta Services in the fourth quarter worth about $27,000. Prestige Wealth Management Group LLC bought a new position in Quanta Services during the 3rd quarter worth about $30,000. Sound Income Strategies LLC increased its position in 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 purchasing an additional 91 shares during the period. Finally, Centricity Wealth Management LLC bought a new stake in shares of Quanta Services in the 4th quarter valued at about $34,000. Institutional investors own 90.49% of the company's stock.
Quanta Services Stock Performance
Shares of PWR traded up $3.83 during trading hours on Monday, hitting $273.40. The stock had a trading volume of 306,534 shares, compared to its average volume of 1,684,377. The firm has a market capitalization of $40.52 billion, a price-to-earnings ratio of 45.34, a PEG ratio of 1.41 and a beta of 1.04. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The firm has a 50-day moving average price of $267.21 and a 200 day moving average price of $302.57. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $365.88.
Quanta Services (NYSE:PWR - Get Free Report) last posted its earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating analysts' consensus estimates of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm had revenue of $6.55 billion for the quarter, compared to analysts' expectations of $6.61 billion. As a group, research analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.
Quanta Services Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were given a dividend of $0.10 per share. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.15%. Quanta Services's dividend payout ratio (DPR) is presently 6.63%.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on PWR. Roth Capital raised shares of Quanta Services to a "strong-buy" rating in a report on Thursday, February 20th. B. Riley reissued a "neutral" rating and issued a $300.00 price target (down from $343.00) on shares of Quanta Services in a research report on Wednesday, March 19th. Citigroup dropped their price objective on Quanta Services from $394.00 to $371.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Piper Sandler initiated coverage on shares of Quanta Services in a report on Tuesday, April 8th. They issued an "overweight" rating and a $286.00 target price for the company. Finally, Stifel Nicolaus reduced their price objective on shares of Quanta Services from $323.00 to $287.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $319.25.
Check Out Our Latest Analysis on PWR
About Quanta Services
(
Free Report)
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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