Flagship Wealth Advisors LLC Makes New $333,000 Investment in Quanta Services, Inc. (NYSE:PWR)

Flagship Wealth Advisors LLC purchased a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,054 shares of the construction company's stock, valued at approximately $333,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. State Street Corp raised its stake in shares of Quanta Services by 1.6% in the third quarter. State Street Corp now owns 5,748,637 shares of the construction company's stock valued at $1,713,956,000 after acquiring an additional 89,975 shares during the last quarter. Geode Capital Management LLC raised its position in Quanta Services by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company's stock worth $1,027,887,000 after purchasing an additional 46,357 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Quanta Services by 4.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company's stock worth $316,055,000 after purchasing an additional 43,715 shares during the period. Bank of New York Mellon Corp lifted its position in Quanta Services by 4.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,024,510 shares of the construction company's stock valued at $323,797,000 after purchasing an additional 45,486 shares during the period. Finally, Swedbank AB grew its position in shares of Quanta Services by 4.6% during the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company's stock worth $286,248,000 after buying an additional 42,579 shares during the period. Institutional investors own 90.49% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on PWR shares. Stifel Nicolaus cut their price target on Quanta Services from $388.00 to $323.00 and set a "buy" rating on the stock in a research note on Monday, February 24th. Guggenheim assumed coverage on Quanta Services in a report on Wednesday, January 8th. They set a "neutral" rating for the company. Bank of America began coverage on Quanta Services in a research report on Friday, January 24th. They issued a "buy" rating and a $407.00 target price on the stock. Truist Financial decreased their price target on shares of Quanta Services from $399.00 to $398.00 and set a "buy" rating for the company in a research note on Thursday, January 16th. Finally, BMO Capital Markets raised shares of Quanta Services from a "market perform" rating to an "outperform" rating and decreased their target price for the company from $338.00 to $316.00 in a research report on Tuesday, February 25th. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $326.79.

Quanta Services Stock Performance

Shares of Quanta Services stock traded down $2.67 during trading on Friday, reaching $268.43. The company's stock had a trading volume of 1,606,022 shares, compared to its average volume of 1,756,634. Quanta Services, Inc. has a 52 week low of $227.11 and a 52 week high of $365.88. The firm has a market cap of $39.78 billion, a PE ratio of 44.52, a P/E/G ratio of 1.41 and a beta of 1.10. The business's 50-day moving average price is $290.21 and its 200-day moving average price is $303.99. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping 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 company had revenue of $6.55 billion for the quarter, compared to analysts' expectations of $6.61 billion. Equities analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.15%. Quanta Services's dividend payout ratio is currently 6.63%.

Quanta Services Company 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.