Signal Advisors Wealth LLC Raises Position in Quanta Services, Inc. (NYSE:PWR)

Signal Advisors Wealth LLC boosted its holdings in Quanta Services, Inc. (NYSE:PWR) by 18.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 13,897 shares of the construction company’s stock after buying an additional 2,119 shares during the quarter. Signal Advisors Wealth LLC’s holdings in Quanta Services were worth $4,392,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Prestige Wealth Management Group LLC bought a new position in shares of Quanta Services in the third quarter worth approximately $30,000. Legacy Investment Solutions LLC purchased a new position in Quanta Services in the 3rd quarter worth approximately $31,000. Quest Partners LLC bought a new position in shares of Quanta Services in the 2nd quarter worth $35,000. Versant Capital Management Inc raised its position 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 valued at $37,000 after buying an additional 45 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Quanta Services during the 3rd quarter worth $41,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wolfe Research began coverage on Quanta Services in a research report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price target on the stock. Guggenheim initiated coverage on Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating on the stock. Truist Financial upped their target price on Quanta Services from $358.00 to $399.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Stifel Nicolaus lifted their price target on shares of Quanta Services from $343.00 to $374.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, UBS Group upped their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $324.25.

Quanta Services Price Performance

Shares of Quanta Services stock opened at $314.38 on Tuesday. The business has a 50 day moving average of $328.26 and a 200 day moving average of $294.21. Quanta Services, Inc. has a 52 week low of $187.27 and a 52 week high of $350.19. The company has a market cap of $46.41 billion, a PE ratio of 58.00 and a beta of 1.06. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. During the same period last year, the company posted $2.08 EPS. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. As a group, equities research analysts forecast that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a $0.10 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.13%. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio is currently 7.38%.

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.