Quanta Services, Inc. (NYSE:PWR) Stake Lifted by Abacus FCF Advisors LLC

Abacus FCF Advisors LLC lifted its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 46.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,165 shares of the construction company's stock after buying an additional 3,224 shares during the period. Abacus FCF Advisors LLC's holdings in Quanta Services were worth $3,213,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Webster Bank N. A. raised its holdings in shares of Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock worth $26,000 after purchasing an additional 81 shares during the period. Sierra Ocean LLC acquired a new stake in Quanta Services during the 4th quarter worth approximately $27,000. Prestige Wealth Management Group LLC purchased a new position in Quanta Services in the third quarter valued at approximately $30,000. Legacy Investment Solutions LLC acquired a new position in Quanta Services during the third quarter valued at approximately $31,000. Finally, Sound Income Strategies LLC grew its stake in Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock worth $33,000 after buying an additional 91 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Up 2.7 %

NYSE PWR traded up $7.20 on Friday, hitting $269.90. 1,098,254 shares of the stock traded hands, compared to its average volume of 1,705,356. The company has a market capitalization of $40.00 billion, a P/E ratio of 44.76, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. The stock has a 50-day moving average of $267.21 and a 200 day moving average of $302.57. 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 twelve month low of $227.08 and a twelve month high of $365.88.

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Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results 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. The business 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 expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.15%. Quanta Services's dividend payout ratio (DPR) is 6.63%.

Analyst Ratings Changes

A number of equities analysts have recently commented on PWR shares. JPMorgan Chase & Co. raised their target price on shares of Quanta Services from $297.00 to $323.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Bank of America assumed 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. Stifel Nicolaus dropped their target price on Quanta Services from $323.00 to $287.00 and set a "buy" rating on the stock in a report on Wednesday. Guggenheim started coverage on Quanta Services in a report on Wednesday, January 8th. They issued a "neutral" rating for the company. Finally, Daiwa Capital Markets lowered shares of Quanta Services from an "outperform" rating to a "neutral" rating in a research note on Monday, February 24th. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Quanta Services has an average rating of "Moderate Buy" and an average price target of $319.25.

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.