1,970 Shares in Quanta Services, Inc. (NYSE:PWR) Acquired by RFG Bristol Wealth Advisors LLC

RFG Bristol Wealth Advisors LLC bought a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,970 shares of the construction company's stock, valued at approximately $623,000.

Several other hedge funds have also recently bought and sold shares of PWR. Kestra Private Wealth Services LLC boosted its position in Quanta Services by 85.0% during the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company's stock worth $1,502,000 after purchasing an additional 2,184 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Quanta Services by 5.6% during the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company's stock worth $61,932,000 after purchasing an additional 11,012 shares in the last quarter. Synovus Financial Corp boosted its position in shares of Quanta Services by 34.0% in the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company's stock worth $2,148,000 after buying an additional 1,830 shares during the period. Allstate Corp acquired a new stake in shares of Quanta Services in the fourth quarter valued at about $1,357,000. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in shares of Quanta Services by 4.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 17,573 shares of the construction company's stock valued at $5,554,000 after buying an additional 793 shares during the period. Hedge funds and other institutional investors own 90.49% of the company's stock.

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Analyst Ratings Changes

Several analysts have issued reports on PWR shares. Roth Mkm began coverage on shares of Quanta Services in a research report on Friday, February 21st. They issued a "buy" rating and a $350.00 price objective for the company. Daiwa Capital Markets downgraded shares of Quanta Services from an "outperform" rating to a "neutral" rating in a research note on Monday, February 24th. Daiwa America downgraded Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 24th. Stifel Nicolaus dropped their target price 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. Finally, Citigroup reduced their price target on Quanta Services from $394.00 to $371.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $326.79.

Quanta Services Stock Performance

NYSE PWR traded down $12.54 during trading hours on Friday, hitting $239.50. The company had a trading volume of 2,086,855 shares, compared to its average volume of 1,702,882. Quanta Services, Inc. has a fifty-two week low of $227.11 and a fifty-two week high of $365.88. The firm has a market cap of $35.49 billion, a P/E ratio of 39.72, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. 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 has a fifty day simple moving average of $273.15 and a 200-day simple moving average of $304.21.

Quanta Services (NYSE:PWR - Get Free Report) last posted its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The firm had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. Equities analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently announced 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. This represents a $0.40 annualized dividend and a yield of 0.17%. The ex-dividend date of this dividend is Thursday, April 3rd. Quanta Services's payout ratio is currently 6.63%.

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.