ExodusPoint Capital Management LP bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,041 shares of the construction company's stock, valued at approximately $2,541,000.
A number of other hedge funds have also recently added to or reduced their stakes in PWR. Kestra Private Wealth Services LLC increased its stake in shares of Quanta Services by 85.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company's stock worth $1,502,000 after purchasing an additional 2,184 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Quanta Services by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company's stock valued at $61,932,000 after purchasing an additional 11,012 shares in the last quarter. Synovus Financial Corp boosted its stake in Quanta Services by 34.0% during the 3rd quarter. Synovus Financial Corp now owns 7,206 shares of the construction company's stock worth $2,148,000 after purchasing an additional 1,830 shares during the last quarter. Allstate Corp acquired a new stake in shares of Quanta Services in the fourth quarter valued at about $1,357,000. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in shares of Quanta Services by 4.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 17,573 shares of the construction company's stock worth $5,554,000 after buying an additional 793 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.
Quanta Services Stock Performance
NYSE:PWR traded up $7.20 during trading hours on Friday, reaching $269.90. 1,098,254 shares of the company's stock were exchanged, compared to its average volume of 1,705,356. The company has a 50-day moving average of $267.21 and a 200 day moving average of $302.53. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $365.88. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $40.00 billion, a price-to-earnings ratio of 44.76, a P/E/G ratio of 1.41 and a beta of 1.04.
Quanta Services (NYSE:PWR - Get Free Report) last released its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (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 business had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Research analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.
Quanta Services Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were paid a $0.10 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. Quanta Services's dividend payout ratio (DPR) is presently 6.63%.
Analyst Ratings Changes
A number of research firms have weighed in on PWR. Roth Capital raised shares of Quanta Services to a "strong-buy" rating in a research note on Thursday, February 20th. Piper Sandler started coverage on Quanta Services in a research note on Tuesday. They set an "overweight" rating and a $286.00 price objective on the stock. BMO Capital Markets raised Quanta Services from a "market perform" rating to an "outperform" rating and cut their target price for the stock from $338.00 to $316.00 in a research note on Tuesday, February 25th. Roth Mkm assumed coverage on shares of Quanta Services in a research report on Friday, February 21st. They set a "buy" rating and a $350.00 price target on the stock. Finally, Guggenheim initiated coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They set a "neutral" rating for the company. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $319.25.
Read Our Latest Analysis on Quanta Services
Quanta Services Company Profile
(
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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