Summit Financial LLC purchased a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 1,713 shares of the construction company's stock, valued at approximately $541,000.
Several other large investors have also recently made changes to their positions in PWR. Webster Bank N. A. grew its stake 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 purchasing an additional 81 shares during the last quarter. Sierra Ocean LLC bought a new stake in shares of Quanta Services in the 4th quarter valued at about $27,000. Prestige Wealth Management Group LLC purchased a new position in shares of Quanta Services in the 3rd quarter worth approximately $30,000. Legacy Investment Solutions LLC bought a new position in shares of Quanta Services during the 3rd quarter worth approximately $31,000. Finally, Sound Income Strategies LLC lifted its position in Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock valued at $33,000 after acquiring an additional 91 shares during the last quarter. 90.49% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several research firms have issued reports on PWR. Guggenheim initiated coverage on shares of Quanta Services in a report on Wednesday, January 8th. They issued a "neutral" rating on the stock. JPMorgan Chase & Co. boosted their target price on Quanta Services from $297.00 to $323.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Roth Mkm initiated coverage on Quanta Services in a research note on Friday, February 21st. They issued a "buy" rating and a $350.00 price target for the company. B. Riley reissued a "neutral" rating and issued a $300.00 price target (down previously from $343.00) on shares of Quanta Services in a report on Wednesday, March 19th. Finally, BMO Capital Markets upgraded shares of Quanta Services from a "market perform" rating to an "outperform" rating and cut their price objective for the company from $338.00 to $316.00 in a report on Tuesday, February 25th. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Quanta Services has a consensus rating of "Moderate Buy" and a consensus target price of $326.79.
Check Out Our Latest Analysis on Quanta Services
Quanta Services Price Performance
NYSE PWR traded up $2.49 during trading hours on Monday, reaching $241.96. The company's stock had a trading volume of 855,133 shares, compared to its average volume of 1,687,592. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $365.88. The company's 50-day moving average is $273.15 and its two-hundred day moving average is $304.43. The firm has a market capitalization of $35.86 billion, a price-to-earnings ratio of 40.13, a P/E/G ratio of 1.41 and a beta of 1.04.
Quanta Services (NYSE:PWR - Get Free Report) last announced its earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating analysts' consensus estimates of $2.62 by $0.12. The business had revenue of $6.55 billion during the quarter, compared to analysts' expectations of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. On average, equities analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.
Quanta Services Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.17%. Quanta Services's dividend payout ratio (DPR) is 6.63%.
About Quanta Services
(
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.
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