Harvest Investment Services LLC Boosts Position in Quanta Services, Inc. (NYSE:PWR)

Harvest Investment Services LLC grew its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 137.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,451 shares of the construction company's stock after acquiring an additional 7,208 shares during the period. Quanta Services comprises 1.0% of Harvest Investment Services LLC's investment portfolio, making the stock its 24th biggest position. Harvest Investment Services LLC's holdings in Quanta Services were worth $3,935,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Webster Bank N. A. raised its position in shares of 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 purchasing an additional 81 shares during the period. Sierra Ocean LLC purchased a new position in Quanta Services in the 4th quarter valued at approximately $27,000. Sound Income Strategies LLC raised its holdings in Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock valued at $33,000 after acquiring an additional 91 shares during the period. Centricity Wealth Management LLC purchased a new stake in shares of Quanta Services during the fourth quarter worth $34,000. Finally, Versant Capital Management Inc boosted its holdings in shares of Quanta Services by 62.5% in the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company's stock worth $37,000 after acquiring an additional 45 shares during the period. Hedge funds and other institutional investors own 90.49% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Truist Financial cut their target price on Quanta Services from $398.00 to $324.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Piper Sandler initiated coverage on shares of Quanta Services in a research note on Tuesday, April 8th. They set an "overweight" rating and a $286.00 price objective for the company. Citigroup lowered their target price on shares of Quanta Services from $366.00 to $342.00 and set a "buy" rating on the stock in a research note on Friday. Roth Capital upgraded shares of Quanta Services to a "strong-buy" rating in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. increased their price objective on Quanta Services from $297.00 to $323.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Six equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $321.70.

Quanta Services Stock Performance

Shares of NYSE PWR traded up $5.52 during midday trading on Friday, reaching $287.64. The company had a trading volume of 1,205,547 shares, compared to its average volume of 1,640,927. The stock has a market cap of $42.65 billion, a P/E ratio of 47.70, a P/E/G ratio of 1.41 and a beta of 1.04. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $365.88. The business's 50-day simple moving average is $261.85 and its 200 day simple moving average is $300.49.

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, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $6.61 billion. On average, analysts forecast 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 was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend was Thursday, April 3rd. 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.