2,199 Shares in Quanta Services, Inc. (NYSE:PWR) Purchased by CreativeOne Wealth LLC

CreativeOne Wealth LLC purchased a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 2,199 shares of the construction company's stock, valued at approximately $656,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Electron Capital Partners LLC lifted its position in shares of Quanta Services by 395.1% during the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company's stock worth $666,260,000 after purchasing an additional 2,092,519 shares in the last quarter. American Century Companies Inc. increased its stake in Quanta Services by 1,445.3% during the 2nd quarter. American Century Companies Inc. now owns 395,152 shares of the construction company's stock worth $100,404,000 after buying an additional 369,581 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Quanta Services by 17.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company's stock valued at $313,968,000 after buying an additional 186,306 shares during the last quarter. National Bank of Canada FI grew its stake in shares of Quanta Services by 297.3% during the second quarter. National Bank of Canada FI now owns 215,914 shares of the construction company's stock valued at $53,455,000 after acquiring an additional 161,574 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its position in shares of Quanta Services by 4,701.7% during the second quarter. Public Sector Pension Investment Board now owns 153,559 shares of the construction company's stock worth $39,018,000 after acquiring an additional 150,361 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PWR. JPMorgan Chase & Co. began coverage on Quanta Services in a research note on Monday, October 7th. They set a "neutral" rating and a $297.00 price objective for the company. Truist Financial raised their price target on shares of Quanta Services from $319.00 to $358.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Northland Securities reaffirmed an "outperform" rating and issued a $328.00 price target (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Citigroup raised their price objective on shares of Quanta Services from $302.00 to $348.00 and gave the stock a "buy" rating in a report on Friday, October 4th. Finally, Jefferies Financial Group started coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They issued a "hold" rating and a $256.00 target price on the stock. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $314.27.

Quanta Services Stock Performance

Shares of NYSE PWR traded up $0.58 during mid-day trading on Friday, hitting $344.52. The company had a trading volume of 370,777 shares, compared to its average volume of 931,267. The stock has a market cap of $50.85 billion, a price-to-earnings ratio of 63.56 and a beta of 1.01. The firm's 50 day simple moving average is $315.72 and its two-hundred day simple moving average is $282.96. 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 12 month low of $186.18 and a 12 month high of $350.19.

Quanta Services (NYSE:PWR - Get Free Report) last posted its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.46 by $0.26. The company had revenue of $6.49 billion for 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%. The firm's quarterly revenue was up 15.5% compared to the same quarter last year. During the same period last year, the business posted $2.08 earnings per share. As a group, equities research analysts forecast that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend is Thursday, January 2nd. This is a boost from Quanta Services's previous quarterly dividend of $0.09. Quanta Services's payout ratio is 6.64%.

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.