Quanta Services, Inc. (NYSE:PWR) Shares Bought by VCI Wealth Management LLC

VCI Wealth Management LLC grew its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 4.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,717 shares of the construction company’s stock after acquiring an additional 188 shares during the quarter. VCI Wealth Management LLC’s holdings in Quanta Services were worth $1,491,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Versor Investments LP acquired a new position in Quanta Services during the 3rd quarter worth $406,000. Principal Financial Group Inc. boosted its position in Quanta Services by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after acquiring an additional 11,012 shares during the period. Asio Capital LLC acquired a new position in Quanta Services during the 3rd quarter worth $2,715,000. Waverton Investment Management Ltd boosted its position in Quanta Services by 6.5% during the 3rd quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock worth $12,509,000 after acquiring an additional 2,557 shares during the period. Finally, Synovus Financial Corp lifted its holdings 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 valued at $2,148,000 after buying an additional 1,830 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PWR. Northland Securities restated an “outperform” rating and issued a $328.00 price objective (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Stifel Nicolaus upped their price objective on Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Daiwa America upgraded Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Bank of America began coverage on Quanta Services in a report on Friday. They issued a “buy” rating and a $407.00 price objective for the company. Finally, UBS Group upped their price objective on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and a consensus target price of $329.88.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $292.61 on Tuesday. The business’s 50-day moving average price is $331.29 and its two-hundred day moving average price is $300.43. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. Quanta Services, Inc. has a one year low of $193.52 and a one year high of $365.88. The company has a market capitalization of $43.19 billion, a P/E ratio of 53.99 and a beta of 1.06.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter in the previous year, the company posted $2.08 earnings per share. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. Analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.14%. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is 7.38%.

Quanta Services 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.