Brighton Jones LLC Makes New $298,000 Investment in Quanta Services, Inc. (NYSE:PWR)

Brighton Jones LLC acquired a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 943 shares of the construction company's stock, valued at approximately $298,000.

Other institutional investors also recently made changes to their positions in the company. HB Wealth Management LLC grew its position in shares of Quanta Services by 0.9% during the 4th quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company's stock valued at $1,050,000 after buying an additional 31 shares during the last quarter. Resurgent Financial Advisors LLC lifted its holdings in shares of Quanta Services by 0.7% in the 3rd quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company's stock worth $1,423,000 after purchasing an additional 33 shares during the last quarter. Tower Wealth Partners Inc. boosted its position in Quanta Services by 3.1% during the 3rd quarter. Tower Wealth Partners Inc. now owns 1,122 shares of the construction company's stock valued at $335,000 after purchasing an additional 34 shares during the period. Huntington National Bank grew its stake in Quanta Services by 2.9% during the 3rd quarter. Huntington National Bank now owns 1,240 shares of the construction company's stock worth $370,000 after buying an additional 35 shares during the last quarter. Finally, Terra Nova Asset Management LLC increased its position in Quanta Services by 0.3% in the third quarter. Terra Nova Asset Management LLC now owns 12,779 shares of the construction company's stock worth $3,810,000 after buying an additional 38 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Trading Up 0.4 %

Quanta Services stock traded up $1.29 during midday trading on Tuesday, reaching $293.72. The stock had a trading volume of 3,450,842 shares, compared to its average volume of 1,477,800. Quanta Services, Inc. has a twelve month low of $193.52 and a twelve month high of $365.88. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The firm has a market cap of $43.36 billion, a price-to-earnings ratio of 54.19 and a beta of 1.06. The firm's fifty day simple moving average is $330.55 and its two-hundred day simple moving average is $300.60.

Quanta Services (NYSE:PWR - Get Free Report) last issued its 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 during the quarter, compared to analysts' expectations of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. Quanta Services's revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.08 earnings per share. Equities 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 was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were issued a dividend of $0.10 per share. This is a boost from Quanta Services's previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend was Thursday, January 2nd. Quanta Services's dividend payout ratio (DPR) is currently 7.38%.

Wall Street Analyst Weigh In

Several research firms have recently commented on PWR. UBS Group upped their price target on shares of Quanta Services from $313.00 to $367.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Truist Financial dropped their price target on shares of Quanta Services from $399.00 to $398.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. Daiwa Capital Markets assumed coverage on Quanta Services in a research report on Friday, December 6th. They set an "outperform" rating and a $355.00 price objective for the company. Daiwa America raised Quanta Services to a "strong-buy" rating in a research note on Friday, December 6th. Finally, Bank of America assumed coverage on Quanta Services in a report on Friday. They set a "buy" rating and a $407.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Quanta Services presently has an average rating of "Moderate Buy" and an average target price of $331.41.

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.