Corebridge Financial Inc. Acquires 156 Shares of Quanta Services, Inc. (NYSE:PWR)

Corebridge Financial Inc. increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 0.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 37,905 shares of the construction company’s stock after purchasing an additional 156 shares during the quarter. Corebridge Financial Inc.’s holdings in Quanta Services were worth $11,980,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PWR. Webster Bank N. A. increased its position in shares of Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Sierra Ocean LLC acquired a new position in Quanta Services in the 4th quarter worth $27,000. Legacy Investment Solutions LLC bought a new position in Quanta Services during the 3rd quarter worth about $31,000. Prestige Wealth Management Group LLC acquired a new stake in shares of Quanta Services in the 3rd quarter valued at about $30,000. Finally, Sound Income Strategies LLC lifted its holdings in shares of Quanta Services by 700.0% in the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after purchasing an additional 91 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Trading Down 0.8 %

PWR stock opened at $276.16 on Wednesday. The stock has a market cap of $40.93 billion, a price-to-earnings ratio of 45.80, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. The company has a fifty day moving average price of $287.74 and a two-hundred day moving average price of $305.00. Quanta Services, Inc. has a one year low of $227.11 and a one year high of $365.88. 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 (NYSE:PWR) last announced its quarterly 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 for 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%. Equities analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors 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 yield of 0.14%. Quanta Services’s dividend payout ratio (DPR) is presently 6.63%.

Analyst Ratings Changes

PWR has been the topic of a number of recent research reports. Truist Financial dropped their target price on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Roth Mkm began coverage on shares of Quanta Services in a report on Friday, February 21st. They issued a “buy” rating and a $350.00 price objective on the stock. Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Daiwa Capital Markets lowered shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Finally, Guggenheim assumed coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating for the company. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and an average price target of $326.79.

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.