Envestnet Asset Management Inc. Boosts Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Envestnet Asset Management Inc. raised its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 11.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 186,693 shares of the construction company's stock after buying an additional 18,548 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.13% of Quanta Services worth $59,004,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Webster Bank N. A. grew its position in Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock worth $26,000 after acquiring an additional 81 shares during the period. Sierra Ocean LLC purchased a new position in Quanta Services during the fourth quarter worth about $27,000. Prestige Wealth Management Group LLC acquired a new position in shares of Quanta Services in the 3rd quarter worth approximately $30,000. Sound Income Strategies LLC increased its holdings in Quanta Services by 700.0% in 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 last quarter. Finally, Centricity Wealth Management LLC acquired a new stake in shares of Quanta Services in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Stock Performance

NYSE PWR traded down $0.83 on Tuesday, reaching $273.47. The stock had a trading volume of 128,972 shares, compared to its average volume of 1,674,418. The business's 50-day moving average price is $266.73 and its 200 day moving average price is $302.42. The stock has a market cap of $40.53 billion, a P/E ratio of 45.35, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $365.88. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30.

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

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders 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 dividend on an annualized basis and a yield of 0.15%. Quanta Services's payout ratio is 6.63%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PWR shares. B. Riley reaffirmed a "neutral" rating and issued a $300.00 target price (down from $343.00) on shares of Quanta Services in a research report on Wednesday, March 19th. Roth Capital raised shares of Quanta Services to a "strong-buy" rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. increased their price objective on Quanta Services from $297.00 to $323.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Guggenheim initiated coverage on Quanta Services in a research note on Wednesday, January 8th. They set a "neutral" rating for the company. Finally, Daiwa America raised Quanta Services from a "hold" rating to a "strong-buy" rating in a research report on Friday. Six equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $319.25.

Quanta Services 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.