Quanta Services, Inc. (NYSE:PWR) Shares Bought by Empowered Funds LLC

Empowered Funds LLC raised its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 726.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 22,138 shares of the construction company’s stock after acquiring an additional 19,459 shares during the period. Empowered Funds LLC’s holdings in Quanta Services were worth $6,995,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of PWR. Kingsview Wealth Management LLC raised its position in Quanta Services by 9.2% during the fourth quarter. Kingsview Wealth Management LLC now owns 9,409 shares of the construction company’s stock valued at $2,974,000 after acquiring an additional 791 shares in the last quarter. Realta Investment Advisors acquired a new stake in shares of Quanta Services during the 4th quarter worth approximately $514,000. Triasima Portfolio Management inc. acquired a new position in shares of Quanta Services in the 4th quarter valued at $3,484,000. Golden State Wealth Management LLC purchased a new stake in Quanta Services during the fourth quarter worth $176,000. Finally, SMART Wealth LLC acquired a new stake in Quanta Services during the fourth quarter valued at $494,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Trading Down 0.5 %

Shares of PWR stock opened at $310.83 on Tuesday. The company has a 50-day moving average of $324.00 and a two-hundred day moving average of $303.66. The firm has a market cap of $45.88 billion, a PE ratio of 57.35, a price-to-earnings-growth ratio of 1.56 and a beta of 1.05. Quanta Services, Inc. has a 1-year low of $205.82 and a 1-year high of $365.88. 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 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 given a $0.10 dividend. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. 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 0.13%. Quanta Services’s payout ratio is presently 7.38%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PWR shares. JPMorgan Chase & Co. increased their target price on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Truist Financial dropped their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Robert W. Baird increased their target price on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Bank of America assumed coverage on shares of Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 price target for the company. Finally, Daiwa America upgraded Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and a consensus target price of $330.50.

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.