Quanta Services, Inc. (NYSE:PWR) Shares Bought by HUB Investment Partners LLC

HUB Investment Partners LLC lifted its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 846.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,156 shares of the construction company's stock after buying an additional 21,604 shares during the quarter. HUB Investment Partners LLC's holdings in Quanta Services were worth $7,635,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PWR. Whittier Trust Co. increased its position in Quanta Services by 7.2% during the 4th quarter. Whittier Trust Co. now owns 6,319 shares of the construction company's stock valued at $1,997,000 after purchasing an additional 425 shares during the period. Teacher Retirement System of Texas increased its holdings in Quanta Services by 40.7% during the fourth quarter. Teacher Retirement System of Texas now owns 1,379 shares of the construction company's stock valued at $436,000 after buying an additional 399 shares during the period. Royal London Asset Management Ltd. raised its stake in Quanta Services by 7.2% in the fourth quarter. Royal London Asset Management Ltd. now owns 64,045 shares of the construction company's stock worth $20,241,000 after buying an additional 4,322 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its holdings in Quanta Services by 75.6% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 2,051 shares of the construction company's stock worth $649,000 after buying an additional 883 shares during the period. Finally, Xponance Inc. boosted its position in Quanta Services by 4.1% during the 4th quarter. Xponance Inc. now owns 24,752 shares of the construction company's stock valued at $7,823,000 after acquiring an additional 972 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

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Quanta Services Stock Performance

Shares of NYSE PWR traded up $10.99 during midday trading on Monday, reaching $279.21. 1,346,596 shares of the stock were exchanged, compared to its average volume of 1,749,181. The firm has a market cap of $41.38 billion, a price-to-earnings ratio of 46.30, a PEG ratio of 1.41 and a beta of 1.10. 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 50-day simple moving average of $288.60 and a two-hundred day simple moving average of $304.81. Quanta Services, Inc. has a twelve month low of $227.11 and a twelve month high of $365.88.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.62 by $0.12. The company had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. As a group, analysts anticipate that Quanta Services, Inc. will post 9.34 EPS 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 dividend of $0.10 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.14%. Quanta Services's dividend payout ratio (DPR) is currently 6.63%.

Wall Street Analyst Weigh In

PWR has been the subject of a number of analyst reports. Truist Financial decreased their price objective on Quanta Services from $399.00 to $398.00 and set a "buy" rating for the company in a research note on Thursday, January 16th. BMO Capital Markets upgraded shares of Quanta Services from a "market perform" rating to an "outperform" rating and lowered their price target for the company from $338.00 to $316.00 in a report on Tuesday, February 25th. B. Riley reiterated a "neutral" rating and set a $300.00 price objective (down previously from $343.00) on shares of Quanta Services in a research note on Wednesday, March 19th. Citigroup lowered their target price on shares of Quanta Services from $394.00 to $371.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Quanta Services from $297.00 to $323.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $326.79.

About Quanta Services

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.