Horizon Investments LLC Acquires 4,013 Shares of Quanta Services, Inc. (NYSE:PWR)

Horizon Investments LLC raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 85.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,710 shares of the construction company's stock after buying an additional 4,013 shares during the period. Horizon Investments LLC's holdings in Quanta Services were worth $2,752,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new stake in shares of Quanta Services during the 4th quarter worth $203,068,000. Alkeon Capital Management LLC lifted its holdings in shares of Quanta Services by 62.5% during the third quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company's stock valued at $193,798,000 after purchasing an additional 250,000 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Quanta Services in the 4th quarter valued at $53,949,000. Union Bancaire Privee UBP SA purchased a new position in Quanta Services in the 4th quarter worth about $46,364,000. Finally, Public Sector Pension Investment Board raised its holdings in Quanta Services by 81.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company's stock worth $83,210,000 after buying an additional 125,530 shares during the period. Institutional investors and hedge funds own 90.49% of the company's stock.

Analysts Set New Price Targets

PWR has been the topic of several analyst reports. Daiwa America downgraded shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 24th. Citigroup lowered their price objective on shares of Quanta Services from $394.00 to $371.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Truist Financial cut their target price on shares of Quanta Services from $399.00 to $398.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. 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 for the company. Finally, Stifel Nicolaus dropped their price target on Quanta Services from $388.00 to $323.00 and set a "buy" rating on the stock in a research report on Monday, February 24th. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $326.79.

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Quanta Services Stock Down 1.0 %

NYSE:PWR traded down $2.67 during trading hours 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. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The company has a market cap of $39.78 billion, a price-to-earnings ratio of 44.52, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a one year low of $227.11 and a one year high of $365.88. The business's 50-day moving average is $289.30 and its 200-day moving average is $304.27.

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 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 business had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Equities research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be issued 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.