Geode Capital Management LLC raised its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 2.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,558,827 shares of the construction company's stock after buying an additional 99,416 shares during the period. Geode Capital Management LLC owned about 2.41% of Quanta Services worth $1,121,830,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Webster Bank N. A. boosted its holdings 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 valued at $26,000 after acquiring an additional 81 shares during the last quarter. Sierra Ocean LLC bought a new stake in shares of Quanta Services in the 4th quarter valued at $27,000. Legacy Investment Solutions LLC acquired a new stake in shares of Quanta Services during the third quarter worth $31,000. Prestige Wealth Management Group LLC bought a new position in Quanta Services during the third quarter worth $30,000. Finally, Sound Income Strategies LLC lifted its holdings in Quanta Services by 700.0% in the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock valued at $33,000 after buying an additional 91 shares during the period. Institutional investors and hedge funds own 90.49% of the company's stock.
Quanta Services Stock Down 5.0 %
Shares of PWR stock traded down $12.54 during trading hours on Friday, reaching $239.50. The company had a trading volume of 2,086,855 shares, compared to its average volume of 1,702,882. The company has a market cap of $35.49 billion, a price-to-earnings ratio of 39.72, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. Quanta Services, Inc. has a 12 month low of $227.11 and a 12 month high of $365.88. The business has a fifty day simple moving average of $273.15 and a 200-day simple moving average of $304.21.
Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The firm had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. On average, research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.
Quanta Services Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.17%. Quanta Services's dividend payout ratio (DPR) is 6.63%.
Wall Street Analyst Weigh In
PWR has been the subject of several research analyst reports. Daiwa America lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 24th. Truist Financial lowered their target price on Quanta Services from $399.00 to $398.00 and set a "buy" rating for the company in a report on Thursday, January 16th. BMO Capital Markets upgraded Quanta Services from a "market perform" rating to an "outperform" rating and cut their price target for the stock from $338.00 to $316.00 in a report on Tuesday, February 25th. Daiwa Capital Markets lowered shares of Quanta Services from an "outperform" rating to a "neutral" rating in a research note on Monday, February 24th. Finally, Roth Capital raised shares of Quanta Services to a "strong-buy" rating in a research note on Thursday, February 20th. Seven 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's stock. According to data from MarketBeat, Quanta Services has an average rating of "Moderate Buy" and an average price target of $326.79.
Get Our Latest Analysis on PWR
About Quanta Services
(
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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