Vanguard Group Inc. Buys 161,277 Shares of Quanta Services, Inc. (NYSE:PWR)

Vanguard Group Inc. raised its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,009,421 shares of the construction company's stock after acquiring an additional 161,277 shares during the quarter. Vanguard Group Inc. owned approximately 11.52% of Quanta Services worth $5,375,828,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PWR. Geneos Wealth Management Inc. lifted its stake in shares of Quanta Services by 0.7% in the 4th quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company's stock worth $1,317,000 after purchasing an additional 29 shares during the period. Commonwealth Financial Services LLC raised its position in Quanta Services by 2.6% in the fourth quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company's stock worth $364,000 after acquiring an additional 29 shares during the period. HB Wealth Management LLC boosted its stake in shares of Quanta Services by 0.9% during the 4th quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company's stock worth $1,050,000 after acquiring an additional 31 shares during the last quarter. Moody Lynn & Lieberson LLC grew its position in shares of Quanta Services by 0.5% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company's stock valued at $1,941,000 after acquiring an additional 32 shares during the period. Finally, Resurgent Financial Advisors LLC increased its stake in shares of Quanta Services by 0.7% in the 3rd quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company's stock worth $1,423,000 after purchasing an additional 33 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Roth Mkm assumed coverage on Quanta Services in a research report on Friday, February 21st. They set a "buy" rating and a $350.00 target price on the stock. Citigroup lowered their price objective on Quanta Services from $394.00 to $371.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. B. Riley reissued a "neutral" rating and issued a $300.00 target price (down from $343.00) on shares of Quanta Services in a report on Wednesday, March 19th. Roth Capital raised shares of Quanta Services to a "strong-buy" rating in a report on Thursday, February 20th. Finally, Truist Financial reduced their price objective on shares of Quanta Services from $399.00 to $398.00 and set a "buy" rating for the company in a research note on Thursday, January 16th. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $326.79.

Quanta Services Price Performance

NYSE PWR traded down $0.71 during trading on Friday, hitting $254.17. 1,150,073 shares of the stock traded hands, compared to its average volume of 1,724,061. The company has a market capitalization of $37.67 billion, a P/E ratio of 42.15, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. Quanta Services, Inc. has a 12-month low of $227.11 and a 12-month high of $365.88. The firm has a 50-day simple moving average of $283.07 and a 200-day simple moving average of $304.37. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

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 for the quarter, beating analysts' consensus estimates of $2.62 by $0.12. The firm had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. As a group, analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend is Thursday, April 3rd. Quanta Services's dividend payout ratio is 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.