Sterling Capital Management LLC boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 44.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,724 shares of the construction company's stock after purchasing an additional 2,068 shares during the period. Sterling Capital Management LLC's holdings in Quanta Services were worth $2,125,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the business. Webster Bank N. A. boosted its holdings in Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. Sierra Ocean LLC purchased a new position in shares of Quanta Services during the fourth quarter valued at about $27,000. Sound Income Strategies LLC raised its stake in Quanta Services by 700.0% in 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 in the last quarter. Centricity Wealth Management LLC purchased a new stake in Quanta Services in the fourth quarter worth about $34,000. Finally, Versant Capital Management Inc grew its holdings in shares of Quanta Services by 62.5% during the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company's stock worth $37,000 after acquiring an additional 45 shares during the period. Hedge funds and other institutional investors own 90.49% of the company's stock.
Quanta Services Stock Performance
Shares of PWR traded down $1.98 on Friday, reaching $267.47. The company's stock had a trading volume of 971,294 shares, compared to its average volume of 1,665,740. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $365.88. The stock has a market capitalization of $39.64 billion, a P/E ratio of 44.36, a PEG ratio of 1.41 and a beta of 1.04. 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 stock's 50 day simple moving average is $263.56 and its two-hundred day simple moving average is $301.58.
Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data 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 the consensus estimate of $6.61 billion. Research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.
Quanta Services Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. Quanta Services's payout ratio is currently 6.63%.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the company. Piper Sandler started coverage on Quanta Services in a research report on Tuesday, April 8th. They set an "overweight" rating and a $286.00 price target on the stock. Roth Capital upgraded shares of Quanta Services to a "strong-buy" rating in a research note on Thursday, February 20th. Roth Mkm initiated coverage on shares of Quanta Services in a research note on Friday, February 21st. They set a "buy" rating and a $350.00 price objective on the stock. Daiwa America raised Quanta Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Finally, JPMorgan Chase & Co. raised their price target on Quanta Services from $297.00 to $323.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Six analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $319.25.
Check Out Our Latest Report on PWR
Quanta Services Profile
(
Free Report)
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.
Further Reading
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