Prevail Innovative Wealth Advisors LLC Makes New Investment in Quanta Services, Inc. (NYSE:PWR)

Prevail Innovative Wealth Advisors LLC purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 10,934 shares of the construction company's stock, valued at approximately $3,456,000.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Quanta Services by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company's stock valued at $5,375,828,000 after buying an additional 161,277 shares in the last quarter. State Street Corp boosted its stake in shares of Quanta Services by 1.6% in the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company's stock valued at $1,713,956,000 after purchasing an additional 89,975 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Quanta Services by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company's stock valued at $1,027,887,000 after purchasing an additional 46,357 shares during the last quarter. Norges Bank bought a new position in Quanta Services in the 4th quarter valued at approximately $544,937,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 valued at $316,055,000 after buying an additional 43,715 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Citigroup cut their price objective on Quanta Services from $394.00 to $371.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. JPMorgan Chase & Co. upped their price objective on Quanta Services from $297.00 to $323.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. BMO Capital Markets upgraded shares of 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 report on Tuesday, February 25th. Roth Mkm assumed coverage on shares of Quanta Services in a research report on Friday, February 21st. They issued a "buy" rating and a $350.00 price target for the company. Finally, Truist Financial dropped 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. 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 stock. According to data from MarketBeat.com, Quanta Services currently has a consensus rating of "Moderate Buy" and a consensus target price of $326.79.

Quanta Services Price Performance

NYSE:PWR traded down $10.19 during trading hours on Thursday, hitting $254.30. 777,689 shares of the company's stock traded hands, compared to its average volume of 1,681,152. The firm has a market cap of $37.69 billion, a P/E ratio of 42.17, a P/E/G 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 business's fifty day simple moving average is $277.57 and its two-hundred day simple moving average is $304.58. Quanta Services, Inc. has a 52 week low of $227.11 and a 52 week high of $365.88.

Quanta Services (NYSE:PWR - Get Free Report) last issued its 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. The company had revenue of $6.55 billion for the quarter, compared to analysts' expectations of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. On average, research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be paid a $0.10 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. Quanta Services's payout ratio is 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.